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Announced

Completed

ProFrac completed the acquisition of FTS International for $408m.

Synopsis

ProFrac, a oilfield services company, completed the acquisition of FTS International, a pure-play hydraulic fracturing service company, for $408m. "The Board and executive leadership team have carefully evaluated a range of strategic alternatives focused on maximizing value and determined that this cash offer from ProFrac, which provides immediate and certain value at an attractive price, is in the best interest of all stockholders. This transaction is the result of a thoughtful analysis of FTSI’s best long-term position for stockholders. At the same time, our Board recognizes industry dynamics remain fluid and believes that the 45-day ‘go-shop’ provides us the optimal structure to execute this transaction. I’m confident this combination will create a stronger organization to successfully compete in our rapidly evolving industry," Eugene Davis, FTS International Chairman of the Board.

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