U.S. Silica Holdings Inc. and Apollo announced that funds managed by affiliates of Apollo have completed the previously announced acquisition of the company. The company will continue to operate under the U.S. Silica name and brand and will continue to be led by Bryan Shinn and the existing executive team.
Shinn, chief executive officer of U.S. Silica, said, “The closing of this transaction with Apollo Funds begins an exciting new chapter in the storied history of U.S. Silica. In Apollo Funds, we have found an experienced partner who shares with us an aligned vision for future growth. Our ability to take this step from a position of strength is a testament to the Company’s excellent foundation and the dedication of our employees. We look forward to executing on the growth opportunities in front of us.”
Gareth Turner, partner at Apollo, said, “We are pleased to complete this acquisition and support the exceptional U.S. Silica management team as the Company embarks on its next phase of growth. With its high-quality reserve base and culture of innovation to provide performance-driven customer solutions, U.S. Silica is a strong platform which we believe we can build on for future success, leveraging our significant industry expertise.”