ProFrac to acquire Performance Proppants and four other entities for $475M cash

ProFrac Holding Corp.

ProFrac subsidiary to acquire 100% of five entities: Performance Proppants, Red River Land, Performance Royalty, Performance International, Sunny Point Aggregates.
Cash consideration of ~$475M, subject to post-closing adjustments.
Closing expected Q1 2023, subject to HSR and other conditions.
Agreement includes standard reps, warranties, indemnities, and covenants.
Sellers are Performance Holdings I and II.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ProFrac Holding Corp. entered into Membership Interest Purchase Agreement with Performance Holdings I, LLC and Performance Holdings II, LLC (collectively, Performance Sellers) valued at approximately $475,000,000.

Action: entry
Agreement: asset purchase
Counterparty: Performance Holdings I, LLC and Performance Holdings II, LLC (collectively, Performance Sellers)
Value: approximately $475,000,000

Exact text from the filing

ProFrac Holdings II, LLC (“ ProFrac II LLC ”), a Texas limited liability company and a subsidiary of ProFrac, entered into a Membership Interest Purchase Agreement (the “ Purchase Agreement ”) with Performance Holdings I, LLC, a Louisiana limited liability company (“ Performance Holdings I ”), and Performance Holdings II, LLC, a Louisiana limited liability company (“ Performance Holdings II ” and, together with Performance Holdings I, the “ Performance Sellers ”).

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ProFrac Holding Corp. filing history →

Source: SEC EDGAR

accession 0001193125-22-315437

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