PFHC - ProFrac Holding to acquire West Texas units of Signal Peak Silica for $90M

ProFrac Holding (NASDAQ:PFHC) said on Tuesday that its subsidiary, ProFrac Holdings II, LLC to acquire SP Silica of Monahans, LLC, and SP Silica Sales, LLC, the West Texas subsidiaries of Signal Peak Silica, for ~$90 million.   No additional terms were disclosed. Matt Wilks, Executive Chairman said, "The Monahans operation brings us a dedicated and dynamic workforce and, by the third quarter of 2022, would expand our total to three in-basin sand mines within the ProFrac portfolio.  SPS Monahans provides nearly 3 million tons of annual sand production capacity of 40/70 and 100 mesh and includes nearly 25,000 tons of on-site storage." Once closed, this transaction brings our companywide annual sand production capacity to approximately 6 million tons, which is expected to increase to approximately 8 million tons when we complete our West Munger facility in the Permian, which is expected to occur by the third quarter of 2022, he added.

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ProFrac Holding to acquire West Texas units of Signal Peak Silica for $90M