U.S. Silica Holdings Inc., a diversified industrial minerals company and a leading last-mile logistics provider to the oil and gas industry, said that its previously announced agreement to be acquired by funds managed by affiliates of Apollo Global Management Inc., a high-growth, global alternative asset manager. Apollo was approved at a special meeting of the company’s stockholders on July 16.
The closing of the merger remains subject to the terms and conditions of the agreement. Subject to such terms and conditions, the company expects that closing of the merger will occur before the end of the current quarter.
Approximately 78% of the company’s outstanding shares were voted at the special meeting, and the merger was approved by more than 75% of the company’s outstanding shares. The company will be filing the final voting results in a Current Report on Form 8-K with the U.S. Securities and Exchange Commission.
U.S. Silica Holdings Inc. is a global performance materials company and is a member of the Russell 2000. The company is a leading producer of commercial silica used in the oil and gas industry and in a wide range of industrial applications.
Over its 124-year history, the company has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver more than 800 diversified products to customers across our end markets. The company’s wholly owned subsidiaries include EP Minerals and SandBox Logistics.