Preferred Sands Announces Sale of Bloomer, Wisconsin Sand Plant to Frontier Sand, LLC

The sale marks a major milestone as Preferred Sands has now fully exited the Northern White sand market and has redirected attention to development of multiple in-basin frac sand plants.

RADNOR, Pa.--()--Preferred Proppants, LLC (“Preferred Sands” or “Preferred” or the “Company”) today announced certain subsidiaries of Preferred have sold its Bloomer, Wisconsin sand plant, access to frac sand reserves through lease agreements and royalty rights, as well as corresponding facilities and equipment (collectively, the “Bloomer” transaction) to Frontier Sand, LLC for cash and future consideration, subject to closing and post-closing adjustments.

Commenting on the Bloomer transaction, Founder and CEO Michael O’Neill said, “This sale, along with our previously announced Blair, Wisconsin transaction, is part of our strategy that was put in place during the previous market downturn to be the regional and in-basin leader within the space. We are strong believers in the shift to regional and local sand as the primary source of supply to the major basins, and have now sold all of our assets that don’t support that strategy.”

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- - Volume: 5 - WEEK: 49 Date: 12/7/2017 7:25:36 AM -