Profrac Holding Corp. Completes Acquisition Of Performance Proppants And Upsize Of Abl Credit Facility
Feb 27, 2023•almost 3 years ago
Acquiring Company
ProFrac Holding
Acquired Company
Performance Proppants
Description
ProFrac Holding Corp. (NASDAQ: ACDC) ("ProFrac" or the "Company") announced today that it has successfully completed its acquisition of Performance Proppants, making it the largest in-basin proppant producer serving the Haynesville. ProFrac acquired Performance Proppants for approximately $475 million, consisting of $469 million in cash and the remainder in shares of ProFrac Class A common stock.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed