EP Minerals to be Acquired by U.S. Silica
March 23 2018 - 5:30AM
Business Wire
EP Minerals, LLC, a global leader in industrial minerals and
engineered materials and a portfolio company of Golden Gate
Capital, today announced that it has entered into a definitive
agreement to be acquired by U.S. Silica Holdings, Inc. (NYSE:
SLCA), a leading producer of commercial silica used in the oil and
gas industry. The transaction represents an enterprise value of
$750 million for EP Minerals. EP Minerals’ management team, led by
President and CEO Gregg Jones, will continue to lead EP Minerals
after the closing of the transaction.
EP Minerals develops, manufactures, and distributes
revolutionary products from diatomaceous earth, clay and perlite
blends. These engineered materials have greatly expanded the
applications and markets for unique minerals, including for use in
filtration, additives and absorbents. Established in 1945, EP
Minerals has since grown through a series of strategic acquisitions
and significant investment in innovating new solutions, markets and
applications for high-quality industrial minerals. Today, the
Company has become Nevada’s largest exporter of industrial minerals
by volume, as well as a global business with offices and
manufacturing plants around the world, distributing directly to
companies in nearly 100 countries.
Golden Gate Capital partnered with EP Minerals in 2011 to build
new and existing markets for the Company, and invest in product
development and global expansion, including the addition of the
Company’s successful line of specialty mineral products.
Gregg Jones, President and CEO of EP Minerals, said, “We are
excited to join the U.S. Silica family and contribute to their
diversification strategy. Over the past several years under Golden
Gate’s ownership, we have become a global industry leader while
staying true to the values we have held since our founding nearly
75 years ago. We look forward to continuing to serve our customers
with high-quality products and providing excellent customer
service.”
Rajeev Amara, Managing Director at Golden Gate Capital, said,
“We deeply appreciate our successful, long-time partnership with
Gregg and the EP Minerals management team. During our ownership,
the Company has more than doubled in size and become an innovative
force in specialty minerals. We are equally excited to sell
the business to U.S. Silica, a truly amazing company we have been
intimately familiar with over the last decade. We are confident
U.S. Silica will be a great home for EP Minerals to continue its
growth.”
Dave Keselica, Chairman of the EP Minerals Board, said,
“Congratulations to both the EP Minerals and the U.S. Silica teams
for creating this winning combination. Under Golden Gate Capital’s
ownership, I’ve seen EP Minerals develop into one of the most
progressive and innovative companies in the industrial minerals
business today. I know that Gregg and his team will be great
contributors to U.S. Silica’s growth and success going
forward.”
Harris Williams & Co. acted as financial advisor, and Nob
Hill Law Group, P.C. and Kirkland & Ellis LLP served as legal
advisors to Golden Gate Capital and EP Minerals.
About EP Minerals
EP Minerals, LLC and its affiliate, EP Engineered Clays
Corporation, are global producers of engineered materials derived
from industrial minerals, including diatomaceous earth (DE),
perlite and calcium bentonite, which are used in the clarification
and purification of liquids, and as catalysts, absorbents and
functional additives, by thousands of companies and consumers in
nearly 100 countries. For more information on EP Minerals, visit
www.epminerals.com.
For more information on EP Engineered Clays, visit
www.epengineeredclays.com.
About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private equity
investment firm with over $15 billion of capital under management.
The principals of Golden Gate Capital have a long and successful
history of investing across a wide range of industries and
transaction types, including going-privates, corporate
divestitures, and recapitalizations, as well as debt and public
equity investments. Notable investments sponsored by Golden Gate
Capital include Cole-Parmer, Tronair, ANGUS, Springs Window
Fashions and GAL Manufacturing. For more information, visit
www.goldengatecap.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180323005091/en/
For EP Minerals:EP Minerals, LLCJulie Brown,
775-276-2780Director of Marketing
Communicationsjulie.brown@epminerals.comorFor Golden Gate
Capital:Sard Verbinnen & CoDavid Isaacs / Hayley
Fahey415-618-8750 / 310-201-2040
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