EnergySolutions, Inc. entered into a ?stalking horse? Asset Purchase Agreement to acquire Substantially All the Assets of Williams Industrial Services Group Inc. (NYSEAM:WLMS) for $60 million on July 22, 2023. The Purchase Agreement provides that the Sellers will pay a break-up fee to Energy Solutions equal to $2,400,000 upon termination of the transaction in certain circumstances. The transactions are part of a sale process under Section 363 of the Bankruptcy Code that will be subject to approval by the Court and compliance with agreed upon and Court-approved bidding procedures allowing for the submission of higher or otherwise better offers and satisfaction of other agreed-upon conditions. Stuart Welburn and Sean Gordon of Thompson Hine LLP and Chipman Brown Cicero & Cole, LLP acted as legal advisor and G2 Capital Advisors, LLC and Greenhill & Co., LLC acted as financial advisor to Williams Industrial Services Group Inc. Michael Littenberg, Matthew Roose and Sarah Young of Ropes & Gray LLP acted as legal advisor to EnergySolutions, Inc.

EnergySolutions, Inc. completed the acquisition Substantially All the Assets of Williams Industrial Services Group Inc. (NYSEAM:WLMS) on September 18, 2023.