KATY, Texas and NEW YORK, July 31, 2024 /PRNewswire/ — U.S. Silica Holdings, Inc. (“U.S. Silica” or the “Company”), a varied minerals corporate and a prominent last-mile logistics supplier to the oil and gasoline business, and Apollo (NYSE: APO) lately introduced that price range controlled by way of associates of Apollo (the “Apollo Funds”) have finished the in the past introduced acquisition of the Corporate. The Corporate will proceed to perform below the U.S. Silica title and logo and can proceed to be led by way of Bryan Shinn and the present government workforce.
Mr. Shinn, Prominent Govt Officer of U.S. Silica, mentioned, “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, Spouse at Apollo, mentioned, “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.”
Transaction Main points
Pursuant to the phrases of the transaction, an associate of Apollo Budget bought all the remarkable stocks of U.S. Silica reserve. Shareholders are entitled to obtain $15.50 in step with percentage in money for each and every percentage of U.S. Silica (SLCA) familiar reserve owned. Because of the transaction finishing touch, U.S. Silica’s familiar reserve now not trades at the Fresh York Accumulation Alternate.
Advisors
Piper Sandler & Co. acted as a monetary consultant to U.S. Silica, and Morrison & Foerster LLP served as U.S. Silica’s felony suggest. Wachtell, Lipton, Rosen & Katz served as felony suggest and BNP Paribas Securities Corp and Barclays served as monetary advisors to Apollo Budget.
About U.S. Silica
U.S. Silica Holdings, Inc. is an international efficiency fabrics corporate and is a member of the Russell 2000. The Corporate is a prominent manufacturer of business silica old within the oil and gasoline business and in a large space of commercial packages. Over its 124-year historical past, U.S. Silica has evolved core competencies in mining, processing, logistics and fabrics science that permit it to build and cost-effectively ship over 800 varied merchandise to shoppers throughout our finish markets.
U.S. Silica’s wholly-owned subsidiaries come with EP Minerals and SandBox Logistics™. EP Minerals is an business chief within the manufacturing of goods derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a cutting-edge chief in proppant vault, dealing with and well-site supply, devoted to creating proppant logistics cleaner, more secure and extra environment friendly. The Corporate has 26 running mines and processing amenities and two supplementary exploration degree homes throughout america and is headquartered in Katy, Texas.
About Apollo
Apollo is a high-growth, international supplementary asset supervisor. In our asset control industry, we search to handover our purchasers plethora go back at each and every level alongside the risk-reward spectrum from funding grade to non-public fairness with a focal point on 3 making an investment methods: giveover, hybrid, and fairness. For greater than 3 many years, our making an investment experience throughout our totally built-in platform has served the monetary go back wishes of our purchasers and supplied companies with cutting edge capital answers for progress. Via Athene, our leaving products and services industry, we focus on serving to purchasers reach monetary safety by way of offering a set of leaving financial savings merchandise and performing as a answers supplier to establishments. Our affected person, inventive, and an expert way to making an investment aligns our purchasers, companies we spend money on, our staff, and the communities we affect, to amplify alternative and reach certain results. As of March 31, 2024, Apollo had roughly $671 billion of property below control. To be told extra, please seek advice from www.apollo.com.
Ahead-Taking a look Statements
This verbal exchange accommodates forward-looking statements. Those forward-looking statements normally will also be known by way of words corresponding to “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook” and “project” or alternative phrases or words of indistinguishable import. Those statements are in accordance with stream expectancies, estimates and projections concerning the business, markets during which the Corporate operates, control’s ideals, suppositions made by way of control and the transactions described on this verbal exchange. Moment the Corporate’s control believes the suppositions underlying the forward-looking statements and data contained herein are affordable, such knowledge is essentially topic to uncertainties and might contain positive dangers, lots of which might be tricky to expect and are past control’s keep watch over. Those dangers come with, however aren’t restricted to, the facility to acknowledge the expected advantages of the transaction, the volume of prices, charges, bills and costs similar to the transaction and the alternative dangers and noteceable components contained and known within the Corporate’s filings with the U.S. Securities and Alternate Fee, such because the definitive proxy observation on Time table 14A filed by way of the Corporate on June 11, 2024, as supplemented on July 8, 2024, and the Corporate’s Annual Record on Method 10-Okay for the fiscal 12 months ended December 31, 2023, in addition to the Corporate’s next Quarterly Stories on Method 10-Q or Wave Stories on Method 8-Okay filed from age to age, any of which might motive latest effects to vary materially from the forward-looking statements on this verbal exchange.
The Corporate cautions buyers to not unduly depend on any forward-looking statements. The forward-looking statements discuss most effective as of the occasion of this verbal exchange. The Corporate undertakes refuse legal responsibility or accountability to replace or revise any of those forward-looking statements next the occasion of this verbal exchange, nor to adapt prior statements to latest effects or revised expectancies, and the Corporate does no longer intend to take action.
U.S. Silica Contacts
Ida Ashley
Vice President, Human Sources
[email protected]
Apollo Contacts
Noah Gunn
World Head of Investor Family members
Apollo World Control, Inc.
(212) 822-0540
[email protected]
Joanna Rose
World Head of Company Communications
Apollo World Control, Inc.
(212) 822-0491
[email protected]
SOURCE U.S. Silica Holdings, Inc.
