Solaris Energy Infrastructure, Inc. [SEI] - Solaris Energy Infrastructure / Omega Acquisition merger
Solaris Energy Infrastructure, Inc. has entered into a definitive merger agreement to acquire Omega Foundation Services Holdco, Inc. for 3,599,199 shares of Class A common stock.
Why this matters
Solaris Energy Infrastructure, Inc., a company specializing in oil and gas field machinery and equipment, has announced a definitive merger agreement to acquire Omega Foundation Services Holdco, Inc. Omega is a leader in the specialized engineering, procurement, and construction industry, with expertise in heavy civil construction across various sectors, including large-scale data centers. This acquisition is strategically aimed at expanding Solaris's turnkey execution capabilities and enhancing its full-cycle power solutions, addressing industry bottlenecks by bringing in-house a skilled team with extensive EPC experience. The transaction is valued at approximately $101 million in net cash, with an additional $28 million in debt and lease assumption, and involves the issuance of 3,599,199 shares of Class A common stock, expected to be immediately accretive to Solaris's earnings and free cash flow per share.