M&A
confidence high
sentiment positive
materiality 0.75
ProFrac closes $140M REV Energy and $35M Producers acquisitions, adding six frac fleets
ProFrac Holding Corp.
- Acquired REV Energy for $140M: $70M in Class B shares, ~$39M seller note, $25.5M cash, ~$5.5M debt assumed; up to $20M earn-out.
- Acquired Producers Services for ~$35M total: ~half paid in Class A shares, rest cash and debt assumption.
- Adds 6 frac fleets: REV 3 fleets (204,500 HHP) in Rockies/Eagle Ford; Producers 3 fleets (200,000 HHP) in Appalachia/Mid-Continent.
- Expects 45 active fleets by Jan end plus 4 electric fleets under construction; transactions accretive to 2023 earnings and cash flow.