ProPetro Holding announced the acquisition of Aqua Prop, a provider of cost-effective wet sand solutions. The all-cash acquisition, initially valued at $35.6M , net of working capital, advances ProPetro’s commitment to delivering more integrated and industrial solutions while adding value for all stakeholders.Sam Sledge, CEO of ProPetro, stated, “The acquisition of Aqua Prop aligns seamlessly with our strategy of pursuing more innovation and integration for our disciplined operating model and high-grading our capital allocations.” The deal structure includes cash consideration, future earnout incentives, and potential growth capex considerations tailored to support and align with Aqua Prop and ProPetro growth targets and objectives, a construct designed to maximize value creation for ProPetro shareholders.
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