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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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April 30, 2015
10:36 EDTSLCAOn The Fly: Analyst Downgrade Summary
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08:39 EDTSLCAU.S. Silica downgraded to Sector Perform from Outperform at Scotia Howard Weil
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April 28, 2015
16:40 EDTSLCAU.S. Silica refrains from giving 2015 adjusted EBITDA outlook
U.S. Silica said, "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 as it can gain more clarity around its customers' business activity levels and the associated demand for its products. Based on current market conditions, the Company anticipates that its capital expenditures for 2015 will be in a range of $60 million to $80 million."
16:39 EDTSLCAU.S. Silica preorts Q1 EPS ex-expenses 40c, consensus 40c
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15:06 EDTSLCANotable companies reporting after market close
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