ProFrac Holding Corp. has entered into a definitive agreement to acquire the Eagle Ford sand mining operations of Monarch Silica LLC. The transaction is expected to close by the end of 2022.
Matt Wilks, ProFrac’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, providing the company with access to high-quality, local proppant in the Eagle Ford, where we currently operate eight active fleets. With Monarch’s production capacity expected to expand to nearly 4 million tpy by the first quarter of 2023, ProFrac will be well positioned to bundle internally sourced proppant across our active fleets in the region.”
Winston & Strawn is acting as ProFrac’s legal counsel on the transaction. Piper Sandler & Co. served as exclusive financial advisor to Monarch, and Chamberlain, Hrdlicka, White, Williams & Aughtry, P.C. is serving as Monarch’s legal counsel.