- In July 2024, Apollo Funds successfully completed the acquisition of U.S. Silica Holdings, a leading provider of diversified minerals and logistics solutions to the oil and gas industry. U.S. Silica expressed confidence in the strategic partnership, noting that Apollo’s vision for long-term growth aligns with the company’s objectives. The company underscored the strength of its solid foundation and committed team as pivotal elements for driving continued success in the future. Apollo Funds' acquisition of U.S. Silica in July 2024 strengthens its position in the global frac sand market, boosting growth and innovation in the oil and gas sector
- In November 2024, Covia Energy and Black Mountain Sand merged to create Iron Oak Energy Solutions, a prominent proppant supplier in North America. The newly formed company has an annual production capacity of 30 million tons, with operations strategically located in key shale basins. Headquartered in Houston, Texas, Iron Oak Energy is well-positioned to address the increasing market demand and pursue additional acquisitions. The merger of Covia Energy and Black Mountain Sand to form Iron Oak Energy Solutions in November 2024 strengthens its position as a leading proppant supplier, meeting the rising demand in the global frac sand market
- In October 2023, ProFrac Holding Corp. announced ongoing strategic evaluations for its wholly-owned subsidiary, Alpine Silica. These assessments involve considering options such as an initial public offering (IPO), potential sale or merger of Alpine Silica, and potential restructuring measures, aiming to optimize the subsidiary's value. ProFrac Holding Corp.'s strategic evaluations for its subsidiary Alpine Silica, including potential IPO or merger, highlight efforts to optimize its position in the global frac sand market
- In January 2023, U.S. Silica Holdings, Inc., a leading proppant sand manufacturer, announced significant expansion plans in the Permian Basin. This expansion includes the establishment of a new frac sand processing facility in Andrews County, Texas, slated for early 2024 launch with an annual production capacity of 2 million tons. Additionally, the company plans to augment railway infrastructure at its existing Kermit facility, boosting its yearly capacity by an additional 1 million tons. U.S. Silica Holdings' expansion in the Permian Basin, including a new frac sand processing facility and increased capacity, strengthens its position in the growing global frac sand market
- In March 2020, CARBO Ceramics entered into an agreement with Wilks Brothers, LLC and Equify Financial, LLC (collectively, the "Wilks Brothers") for the acquisition of the company through a debt-for-equity exchange under a Chapter 11 bankruptcy reorganization plan. To facilitate the transaction, CARBO voluntarily initiated a Chapter 11 proceeding in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. The company expects to maintain normal operations throughout the bankruptcy process. CARBO Ceramics' acquisition under a Chapter 11 bankruptcy reorganization plan highlights industry consolidation efforts within the global frac sand market during challenging financial conditions
