Smith Electric Acquires American Business Services - O'Keeffe and O'Malley

Smith Electric Acquires American Business Services

Aug 14, 2014

In an effort to become a publicly traded company, Kansas City-based Smith Electric Vehicles has acquired a majority stake in American Business Services Inc. American Business is a small publicly traded consulting company based in Castle Rock, CO.

Smith Electric is an electric truck company that has struggled for the last couple of years, and this reverse merger will allow the company to offer the acquired company’s stock to raise funds.

The acquisition price was $340,000.