BUZZ-Solaris Energy rises on GESA acquisition

SOLARIS ENERGY INFRASTRUCTUR

SOLARIS ENERGY INFRASTRUCTUR

SEI

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** Shares of oil and gas infrastructure firm Solaris Energy SEI.N up 3.8% at $69.8 premarket

** Solaris announces the acquisition of Global Energy Services Alliance (GESA) to expand into full-cycle, end-to-end power generation capabilities

** Co says GESA is formed from the combination of Baseload Power and Pro-Per Energy Services

** Adds it strengthens technical talent base with expertise across installation, commissioning, operations, maintenance, and repairs for multiple turbine and generator types

** Co says the acquisition enables its entry into domestic and international markets, including grid-connected, co-located, and behind-the-meter power projects

** Co expects acquisition to be accretive to earnings and free cash flow per share

** Co says the transaction was funded with about $55 million in cash plus the issuance of roughly 3 million Solaris Class A shares

** At last close, SEI up 46.2% YTD