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Atlas Energy Solutions Inc. announces agreement to acquire Moser Energy Systems

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Atlas Energy Solutions Inc.  has announced a definitive agreement to acquire Moser Energy Systems, a leading provider of distributed power solutions, for $220 million. The acquisition includes $180 million in cash and approximately 1.7 million shares of Atlas common stock, valued at $40 million based on a 20-day trailing volume-weighted average price as of 24 January 2025. Atlas retains the option to pay the total consideration in cash instead of issuing stock.

The transaction represents a significant step forward for Atlas, combining its completion platform with Moser’s distributed power solutions to create a diversified energy solutions provider. Key benefits of the acquisition include:

  • Expanded Capabilities: Moser’s fleet of natural gas-powered assets (~212 MWs) will broaden Atlas’s operations into production and distributed power markets, reducing volatility in its completions business.
  • Enhanced Financial Performance: Moser’s strong EBITDA margin of over 50 percent and robust cash flow generation are expected to boost Atlas’s pro forma cash flow and shareholder returns.
  • Operational Synergies: Moser’s in-house manufacturing and remanufacturing capabilities will improve quality, reliability, and cost efficiency across Atlas’s operations.
  • Geographic Reach: The acquisition strengthens Atlas’s presence in the Permian Basin while expanding its footprint across other major oil and gas basins in the central United States.
  • Accretive Financial Impact: The transaction is expected to be immediately accretive, with the acquired assets projected to contribute $40-45 million in adjusted EBITDA in 2025, implying a valuation of approximately 4.3x 2025 adjusted EBITDA on a full run-rate basis.

The transaction, which is expected to close by the end of the first quarter of 2025, aligns with Atlas’s strategy of diversifying its business into high-growth markets while reinforcing its position as a leading energy solutions provider.

John Turner, president and CEO of Atlas, highlighted the significance of the deal, stating:
“Today marks yet another exciting milestone for Atlas. This acquisition diversifies the company into attractive high-growth end markets in both production and distributed power while strengthening Atlas’s current market position as a leading provider of energy solutions within the oil and gas sector across North America. This transaction highlights our continued commitment to evolve our organisation by deploying innovative and differentiated solutions to return value to our shareholders.”

Mark Plunkett, managing partner of Hilltop Opportunity Partners, also emphasized Moser’s legacy and the strategic fit with Atlas, adding:
“When we made our original investment in Moser, we saw a company with tremendous potential and a rich legacy of customer service and excellence that Randy Moser and his family had built over the previous 40 years. We view Atlas Energy as the perfect company to further build upon that legacy.”

Atlas will fund the cash portion of the acquisition, including the Cash Option if exercised, through an upsizing amendment to its delayed draw term loan facility.

The Atlas board of directors has approved the transaction, which is subject to customary closing conditions. The acquisition is expected to close by the end of Q1 2025.

This strategic acquisition underlines Atlas’s commitment to innovation, diversification, and delivering long-term value to its shareholders while positioning itself as a leader in the evolving energy landscape.

For more information visit www.atlas.energy