Gordon Brothers, Hilco acquire Preferred Sands' operations in Canada
Gordon Brothers Group and an affiliate of Hilco Global have jointly acquired the Canadian operations of Preferred Sands, a U.S. provider of sand to the hydraulic fracturing industry. The acquired assets include Preferred Sands of Canada's Hanson Lake facility in Saskatoon. The company specializes in producing premium silica sand, resin-coated proppants and industrial sand, as well as environmentally-sensitive varieties. The value of the assets is said to be about $30 million at cost. U.S. private equity firm Kohlberg Kravis Roberts & Co agreed to make an investment in the Radnor, Pennsylvania-based Preferred Sands in 2014.
29 January 2015•3 mins read
