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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.
News For SLCA From The Last 14 Days
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July 29, 2015
07:42 EDTSLCAFairmount Santrol price target lowered to $6 from $11 at RBC Capital
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July 28, 2015
17:31 EDTSLCAU.S. Silica says will refrain from providing adjusted EBITDA guidance
Due to the current lack of visibility in its Oil and Gas business, the company will continue to refrain from providing guidance for adjusted EBITDA until such time when it can gain more clarity around its customers' business activity levels and the associated demand for its products.
17:30 EDTSLCAU.S. Silica sees FY15 CapEx $60M-$70M
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17:29 EDTSLCAU.S. Silica reports Q2 adjusted EPS 8c, consensus 7c
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