ProPetro Holding Announces Acquisition Of Wet Sand Solutions Provider Aqua Prop LLC; All Cash Acquisition Is Initially Valued At $35.6M
Portfolio Pulse from Benzinga Newsdesk
ProPetro Holding has announced the acquisition of Aqua Prop LLC, a wet sand solutions provider, for an initial cash consideration of $35.6 million. The deal includes future earnout incentives and potential growth capex considerations to align with both companies' growth targets and objectives, aiming to maximize value for ProPetro shareholders.
June 03, 2024 | 11:05 am
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ProPetro Holding has acquired Aqua Prop LLC for $35.6 million in cash. The acquisition includes future earnout incentives and growth capex considerations, which are expected to support ProPetro's growth targets and maximize shareholder value.
The acquisition of Aqua Prop LLC is likely to positively impact ProPetro Holding's stock price in the short term due to the strategic alignment with growth targets and the potential for value creation for shareholders.
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