Flotek closes $105M acquisition of mobile power generation assets from ProFrac GDM

FLOTEK INDUSTRIES INC/CN/

Total consideration of $105M includes $17.6M offset against order shortfall payments owed under Chemical Products Supply Agreement.
Acquired assets include mobile power generation equipment and related intellectual property.
PWRTEK subsidiary also entered a six-year dry lease of certain acquired assets with ProFrac GDM.
Remainder of $105M is allocated to the lease and other transactions beyond the $17.6M asset purchase offset.

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