Source Energy Services closes US $45M acquisition of Sand Products

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By CPE News

Calgary (pcJ News Briefs) – Source Energy Services Ltd. (TSX: SHLE), a portfolio company of TriWest Capital Partners, has completed previously announced acquisition of Sand Products Wisconsin LLC for US $45 million.

Sand Products’ assets include a Northern White frac sand mine, processing facility and unit train capable load-out facility located near Blair, Wisconsin.

“This acquisition allows Source to significantly increase our Northern White frac sand production volumes,” commented Brad Thomson, CEO of Source Energy Services. “With a production capacity of 1.3 million metric tonnes per year, the Sand Products acquisition helps Source meet the growing demand for Northern White frac sand in the Western Canadian Sedimentary Basin with efficient, low cost production.”

Source Energy Services is a fully integrated producer, supplier and distributer of high-quality Northern White frac sand primarily to the Western Canadian Sedimentary Basin. Source provides its customers with a full end-to-end solution through its Wisconsin mine assets, processing facilities, unit train capable rail assets, strategically located terminal network and “last mile” logistics capabilities.

photo credit: Source Energy Services