U.S. Silica Holdings Inc. (NYSE: SLCA) said Aug. 17 it completed the acquisition of the NBR Sand unit of New Birmingham Inc. for $210 million.
Located in Tyler, Texas, NBR has access to prolific shales within the state. It operates a single sand mine and plant that has the capacity to produce more than 2 million tons of fine-grade frack sand per year.
The deal will increase U.S. Silica's presence in several regions including the Permian Basin, said Bryan Shinn, the company's president and CEO.
"The acquisition of NBR delivers on our strategic objective to diversify our mix of product offerings to better match evolving demand trends while maintaining our competitive advantage of low cost production," Shinn said in a statement.
The purchase price included 57% cash and 43% restricted stock. U.S. Silica is headquartered in Frederick, Md., and also has offices located in Chicago and Houston.
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