SOLV Energy acquires ASB Energy Services for about $45 million
SOLV•SOLV Energy completed its acquisition of ASB Energy Services for approximately $45 million, excluding customary closing adjustments. The consideration included $36 million in cash and $9 million in Class A common stock.
1. Acquisition completed
SOLV Energy completed the acquisition of Texas-based ASB Energy Services for approximately $45 million, excluding customary closing adjustments. The consideration comprised $36 million in cash and $9 million in shares of Class A common stock. ASB specializes in substation foundations, civil construction and battery energy storage system infrastructure; it will retain its leadership team, operating approach and customer relationships.
