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Stock Market & Financial Investment News

News Breaks
June 24, 2014
09:03 EDTSLCAU.S. Silica to increase prices of Industrial and Specialty Products business
U.S. Silica Holdings said that its Industrial and Specialty Products business is increasing prices for the majority of its non-contracted ground and fine ground silica sand products used primarily in paints, coatings, elastomers, chemical, building products and other applications, an average of approximately ten percent. The increases are effective with shipments after July 15th or as contracts allow.
News For SLCA From The Last 14 Days
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July 18, 2014
07:27 EDTSLCAU.S. Silica price target raised to $69 from $54 at Jefferies
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July 17, 2014
07:51 EDTSLCAU.S. Silica to host conference call
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July 16, 2014
17:09 EDTSLCAU.S. Silica to acquire Cadre Services for $98M cash
U.S. Silica Holdings announced that it has signed a stock purchase agreement to acquire all of the outstanding shares of Cadre Services for approximately $98M in cash. Closing is expected by the end of the month. The purchase price of $98M, less the net present value of approximately $14M in deferred tax assets, results in $84M of net consideration. Adjusted LTM EBITDA of $11.1M represents a purchase price multiple of 7.6 times. Projected 2015 Adjusted EBITDA of approximately $18M after synergies and the benefit of a full year of sales from the March capacity expansion represents a purchase price multiple of 4.7 times. This would result in Adjusted EPS accretion of 11c-13c per share in 2015.

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