The sale of U.S. Silica to Apollo Funds is now complete.
U.S. Silica, whose subsidiaries include EP Minerals and SandBox logistics, has 26 operating mines and processing facilities, as well as two exploration-stage properties across the U.S. The company is headquartered in Katy, Texas.
According to U.S. Silica, Apollo Funds is an investment firm with about $651 billion of assets under management.
The transaction was valued at $1.85 billion.
“We are pleased to reach this agreement with Apollo Funds, which we believe will provide our stockholders with compelling, certain, cash value for their shares,” says Charles Shaver, chairman of the U.S. Silica board of directors. “Apollo Funds have a strong investment record in the minerals and mining sector and are committed to helping us achieve our long-term objectives while maintaining our core values and customer-centric approach.”
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