EP Minerals – with sales of over $200 million – is a global producer of engineered materials derived from industrial minerals including diatomaceous earth (DE), clay (calcium bentonite) and perlite. The company is the number one or number two player in each of its global markets. Similar to U.S. Silica's Industrial and Specialty Products (ISP) segment, it has transformed from a commodity-based business by adding new, value-added, higher-margin products to its mix, developing over 50 innovative new products in the last three years with 40 plus products in its new development pipeline today.
U.S. Silica's ISP business remains on track for substantial growth through expansion of base business pricing and volume, acquiring bolt-ons in attractive, adjacent markets, and by developing and marketing new, value-added, higher margin products. U.S. Silica will finance the transaction and refinance its current debt through a new seven year, $1.280 billion committed Term Loan B credit facility and an expanded $100 million revolving credit facility.
The transaction is expected to be accretive in the fourth quarter of 2018 and is expected to close in the second quarter of 2018.
Baker Botts represented U.S. Silica in the transaction.
Baker Botts Lawyers/Office Involved:
Corporate: Efren Acosta (Partner, Houston); Laura Katherine Mann (Senior Associate, Houston); Bill Pritchett (Associate, Houston); Jennifer Gasser (Associate, Houston); Josh Gonzales (Associate, Houston); Gita Pathak (Associate, Houston).
Antitrust: Tom Fina (Partner, Washington); Michael Bodosky (Special Counsel, Washington)
Environmental: Scott Janoe (Partner, Houston); Harrison Reback (Associate, Houston); Paulina Williams (Special Counsel, Austin)
Tax: Ron Scharnberg (Partner, Houston); Katie McEvilly (Associate, Houston)
Intellectual Property: Robinson Vu (Partner, Houston); Amy Bergeron (Associate, Houston); Lindsey Volpenheim Cutie (Associate, Houston)
Employee Benefits: Chris Pratt (Special Counsel, Houston); Gaby Alvarez (Associate, Houston)
Real Estate: Chris Wilson (Partner, Houston); Nina Culotta (Associate, Houston); Sarabeth Westwood (Associate, Houston)
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