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WILLOW PARK, Texas, December 5, 2022 /PRNewswire/ — ProFrac Holding Corp . (NASDAQ: ACDC) (“ProFrac” or the “Company”) announced today that it has entered into a definitive agreement to acquire the Eagle Ford sand mining operations of Monarch Silica, LLC (“Monarch”). The transaction is expected to close by the end of 2022.
Matt WilksProFrac’s Executive Chairman, commented, “We are pleased to add the Monarch mine to the growing portfolio of in-basin sand mines we operate through Alpine Silica. This transaction further demonstrates ProFrac’s commitment to its vertical integration strategy, which gives the Company access to high-quality, local proppant in the Eagle Ford, where we currently operate an active fleet of 8. As Monarch’s production capacity is expected to expand to nearly 4 million tonnes per annum by Q1 2023, ProFrac will be well positioned to bundle internally sourced proppant with our active fleets in the region.”
Winston & Strawn is acting as ProFrac’s legal advisor on the transaction. Piper Sandler & Co served. as exclusive financial advisor to Monarch, and Chamberlain, Hrdlicka, White, Williams & Aughtry, PC is serving as Monarch’s legal advisor.
About ProFrac Holding Corp.
ProFrac Holding Corp. is a growth-oriented, vertically integrated and innovation-driven energy services company that provides hydraulic fracturing, completion services and other ancillary products and services to leading oil and gas companies engaged in exploration and production (“E&P”) of Unconventional oil and natural gas resources in North America. Founded in 2016, the Company was built to be the go-to service provider for E&P companies most demanding hydraulic fracturing needs. ProFrac is focused on using new technologies to significantly reduce “greenhouse gas” emissions and increase efficiency in what was once the emissions-intensive part of the unconventional E&P development process. For more information, please visit the Company’s website, https://www.pfholdingscorp.com.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the “safe harbor” provision of the Private Securities Litigation Reform Act of 1995. In some cases, the reader may identify forward-looking statements through words such as “may,” “should,” “will,” “expect,” “intend,” “is,” “estimate,” “expect,” “believe,” “guess,” or similar words. Forward-looking statements relate to future events or the Company’s future financial or operating performance. These forward-looking statements include, among other things, statements about: the expected timing and expected benefits of the Monarch acquisition, including the benefits associated with scaling the company’s vertically integrated business model Company and increasing sand mining capabilities; and the Company’s estimates of the production capacity of the Company’s sand mining operations in future periods. Such forward-looking statements are based on assumptions made by the Company as of the date hereof and are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed. or implied by such forward-looking statements. Factors that could cause actual results to differ materially from current expectations include, but are not limited to, the risk that the proposed transaction may not be completed in a timely manner or at all, the ability to effectively scale the Company’s operations and integrate the acquired assets. and personnel in the Company’s current business model, the Company’s ability to execute its business strategy and plans for growth, including with respect to the completion of the Monarch acquisition, the failure to execute the acquired sand mining operations of Monarch in a timely manner or at all; risks related to the Company’s ability to finance the acquisition of Monarch on favorable terms or at all; industry conditions, including changes in supply, demand and prices for the Company’s products and services; global and regional economic and financial conditions; and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s filings with the Securities and Exchange Commission (“SEC”). , which is available on the SEC’s website at www. .sec.gov. There may be additional risks that the Company is not currently aware of or that the Company currently believes to be immaterial that may also cause actual results to differ from the contents of forward-looking statements. The reader should not place undue reliance on forward-looking statements, which speak only as of the date on which they are made. The Company expects that subsequent events and developments will cause its assessments to change. However, although the Company may choose to update these statements in the future, it expressly disclaims any duty to update these statements, except as required by law.
Source ProFrac Holding Corp.
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