Zinger Key Points
- Moser Holdings sells subsidiary to Atlas for $220 million.
- Transaction includes cash and Atlas common stock worth $41 million.
- Get Pro-Level Earnings Insights Before the Market Moves
Hilltop Opportunity Partners, the merchant banking subsidiary of Hilltop Holdings Inc. HTH, said that its portfolio company, Moser Holdings, LLC, has finalized a binding agreement to transfer ownership of Moser Acquisition, Inc., its wholly owned subsidiary, to Atlas Energy Solutions Inc.
The deal also encompasses Moser Energy Systems, a supplier of distributed power solutions, which operates under Moser Acquisition.
The transaction is valued at approximately $220 million, including $180 million in cash and about 1.7 million shares of Atlas common stock, which were worth about $41 million as of January 24, 2025.
Atlas has the choice to pay the entire amount in cash instead of issuing stock, with the final payment structure to be determined at closing.
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“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,” said Mark Plunkett, Managing Partner of Hilltop Opportunity Partners.
“We have worked hard to be good caretakers of that legacy as we have grown the business, and we view Atlas Energy as the perfect company to further build upon that legacy.”
If Atlas opts not to use the stock option, any equity payment could be redeemed for cash following the deal’s completion.
The boards of both Atlas Energy Solutions and Moser Holdings have already given their approval for the transaction.
The deal is anticipated to be finalized in the first quarter of 2025, subject to standard closing conditions. The company held $1.96 billion in cash and due from banks as of September 30, 2024.
TPH&Co., the energy division of Perella Weinberg Partners, is serving as the exclusive financial advisor to Moser Holdings, while Katten Muchin Rosemann LLP is offering legal support to the company for the transaction.
Price Action: HTH shares are trading higher by 1.14% at $29.23 at the last check Monday.
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