ProFrac Holding has closed on its previously-announced acquisition of REV Energy Holdings, a privately owned pressure pumping service provider with operations in the Rockies and Eagle Ford. ProFrac acquired REV for USD 140 million. REV operates three premium frac fleets totaling 204,500 hydraulic horsepower that offer significant opportunity for upgrades through the additions of DGB engines and engine idle reduction systems.ProFrac also closed the acquisition of Producers Services Holdings, an employee-owned pressure pumping services provider serving Appalachia and the Mid-Continent. Under the terms of the agreement, ProFrac has acquired Producers for approximately USD 35 million. Through this transaction, ProFrac will add three fleets, of which two are currently active, totaling 200,000 HHP as well as a 50,000 square foot manufacturing facility located near Zanesville, OH, through which the Company plans to expand its manufacturing footprint to support Northeast operations. The Company expects the transaction to be accretive to earnings and cash flow in 2023.With these transactions, ProFrac has expanded its geographic footprint to include the Rockies and Bakken, and increased its pressure pumping and manufacturing presence in the Northeast. By the end of January, ProFrac expects to have 45 active fleets, with an additional four electric fleets under construction that the Company expects to deploy in the first half of 2023.
ProFrac Holding has closed on its previously-announced acquisition of REV Energy Holdings, a privately owned pressure pumping service provider with operations in the Rockies and Eagle Ford. ProFrac acquired REV for USD 140 million. REV operates three premium frac fleets totaling 204,500 hydraulic horsepower that offer significant opportunity for upgrades through the additions of DGB engines and engine idle reduction systems.ProFrac also closed the acquisition of Producers Services Holdings, an employee-owned pressure pumping services provider serving Appalachia and the Mid-Continent. Under the terms of the agreement, ProFrac has acquired Producers for approximately USD 35 million. Through this transaction, ProFrac will add three fleets, of which two are currently active, totaling 200,000 HHP as well as a 50,000 square foot manufacturing facility located near Zanesville, OH, through which the Company plans to expand its manufacturing footprint to support Northeast operations. The Company expects the transaction to be accretive to earnings and cash flow in 2023.With these transactions, ProFrac has expanded its geographic footprint to include the Rockies and Bakken, and increased its pressure pumping and manufacturing presence in the Northeast. By the end of January, ProFrac expects to have 45 active fleets, with an additional four electric fleets under construction that the Company expects to deploy in the first half of 2023.
