Solaris Energy Acquires Global Energy Services Alliance for $264M, Expects Immediate EPS Boost
SEI has more than doubled off its 52-week low of $24.57.
Summary
Solaris Energy Infrastructure has acquired Global Energy Services Alliance, a power generation service provider. The deal is valued at approximately $264 million, funded by $55 million in cash and 3 million Class A shares. This acquisition is expected to immediately boost Solaris's earnings and free cash flow per share, while strengthening its in-house technical capabilities. The market reacted positively, with shares rising 3.6%.
At the time of this announcement, SEI was trading at $69.50 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $5.1B. The 52-week trading range was $24.57 to $86.19. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.