ProFrac Holding Corp. Acquires REV Energy Holdings and Performance Proppants (plus Monarch Silica Eagle Ford operations)

ProFrac Holding Corp. Acquires U.S. Well Services, Inc.

November 1, 2022

Energy

ProFrac Holding Corp. completed a stock-for-stock merger to acquire U.S. Well Services, issuing approximately 12.9 million shares (≈$270 million based on a 10-day VWAP) and using cash to retire about $170 million of USWS debt. The deal expands ProFrac's scale and positions it as a market leader in electric hydraulic fracturing with 12 electric fleets and an expected 44 active fleets by early 2023.

ProPetro Acquires Aqua Prop

June 3, 2024

Energy

ProPetro Holding Corp. (NYSE: PUMP) acquired Aqua Prop LLC, a provider of wet sand solutions for hydraulic fracturing, in an all-cash transaction initially valued at $35.6 million net of working capital. The acquisition expands ProPetro’s integrated completions capabilities by adding onsite sand storage, handling and preferred logistics access and includes cash consideration, earnout incentives and potential growth capex.

Liberty Oilfield Services Acquires PropX (Proppant Express Investments, LLC)

October 27, 2021

Energy

Liberty Oilfield Services Inc. acquired PropX (Proppant Express Investments, LLC), a Denver-based provider of last-mile proppant delivery equipment, logistics and software, in a transaction valued at approximately $90 million (cash and stock). The deal adds PropX's wet sand handling technology, proppant containers and PropConnect logistics software to Liberty's completion services offering to improve logistics efficiency and reduce emissions.

Atlas Energy Solutions Acquires Hi-Crush Permian Proppant Assets

February 27, 2024

Energy

Atlas Energy Solutions Inc. agreed to acquire Hi-Crush Inc.'s Permian Basin proppant production assets and North American logistics operations in a transaction valued at $450 million, comprised of $150 million cash up-front, $175 million in AESI common stock and $125 million in a seller's note. The deal (effective Feb 29, 2024) expands Atlas's pro forma production capacity to ~28 million tons, broadens its logistics capabilities (adding Pronghorn and OnCore), is expected to be accretive to CFPS/EPS and to yield over $20 million of annual synergies by 2026; the transaction excludes Hi-Crush's Northern White Sand mining assets and northeastern rail terminals.

ProFrac Holdings Acquires FTS International

March 4, 2022

Energy

ProFrac Holdings, LLC completed the acquisition of FTS International, Inc., closing related refinancing transactions and appointing Lance Turner (formerly FTSI CFO) as ProFrac CFO. The combined company — which ProFrac says will be one of the largest U.S. pressure‑pumping providers — has 31 active frac fleets pro forma and generated $257.9 million of annualized combined adjusted EBITDA in Q4 2021 (before synergies).

Iron Oak Energy Solutions Acquires Superior Silica Sands LLC

December 16, 2025

Energy

Iron Oak Energy Solutions LLC acquired Superior Silica Sands LLC in an all-stock transaction, adding over 3 million tons per year of frac sand production capacity and expanding Iron Oak's footprint in the Eagle Ford Shale. The deal increases Iron Oak's total annual production capacity to roughly 40 million tons and broadens the combined platform's ability to serve oil & gas, construction and industrial sand markets.