Flotek to acquire ProFrac's power generation assets for$105m.

Flotek, chemistry and data technology company, agreed to acquire power generation assets of ProFrac, a technology-focused, vertically integrated and innovation-driven energy services company, for $105m. "These transactions represent an evolutionary step forward in our business relationship with Flotek. By leveraging cutting-edge intellectual property, these asset integrity management solutions provide industry-leading gas quality assurance capabilities to customers while providing a platform for future growth as we partner with Flotek to explore applications of this technology across other industry verticals. Importantly, these transactions strengthen our financial flexibility and our ability to optimally manage our purchase obligations under the Chemicals Supply Agreement in place with Flotek," Matt Wilks, ProFrac Executive Chairman.