U.S. Silica Holdings, Inc. (NYSE: SLCA) today announced an agreement to acquire a leading regional sand producer for approximately $210 million, subject to certain adjustments at closing. The transaction will be funded using a combination of cash on hand (57%) and restricted stock (43%).The acquisition of the NBR Sand unit of the privately-owned New Birmingham Inc. is expected to close in August 2016.
The business, located in Tyler, Texas, operates a single sand mine and plant that has the capacity to produce just over two million tons of fine-grade frac sand per year.
