FREDERICK, Md., May 1, 2018 /PRNewswire/ -- U.S. Silica
Holdings, Inc. (NYSE: SLCA) announced today that it has completed the $750 million acquisition of
EP Minerals, a global producer of engineered materials
derived from industrial minerals including diatomaceous earth (DE), clay (calcium bentonite) and perlite. The company's unique
industrial minerals are used as filter aids, absorbents and functional additives for a variety of industries including food and
beverage, biofuels, recreational water, oil and gas, farm and home, landscape, sports turf, paint, plastics, and
insecticides.
''This transformative acquisition achieves a key corporate objective to diversify our profit sources and add additional EBITDA
from a broader industrial space to better balance our portfolio opposite our more cyclical Oil and Gas business," said
Bryan Shinn, president and chief executive officer. "EP Minerals has a very attractive market
structure, is a business with strong margins and very consistent cash flows with numerous growth opportunities and a robust
pipeline of new products. Bottom line, this is a very diverse company with a rare combination of advantages and strengths and we
are excited about the opportunity to work with the EP Minerals team to continue to grow its market-leading business,'' Shinn
concluded.
The transaction is being financed by $1.28 billion in term loan facilities committed to by BNP
Paribas and Barclays. The company also increased its revolving credit facility to an aggregate of $100
million.
Forward-looking Statements
Certain statements in this press release are "forward-looking statements" made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995 and speak only as of this date. Forward-looking statements made include
any statement that does not directly relate to any historical or current fact and may include, but are not limited to, statements
regarding U.S. Silica's growth opportunities, strategy, future financial results, forecasts, projections, plans and
capital expenditures, and the commercial silica industry. Forward-looking statements are based on our current expectations and
assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and
changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and
adversely from these forward-looking statements. Among these factors are: (1) fluctuations in demand for commercial silica; (2)
the cyclical nature of our customers' businesses; (3) operating risks that are beyond our control; (4) federal, state and local
legislative and regulatory initiatives relating to hydraulic fracturing; (5) our ability to implement our capacity expansion
plans within our current timetable and budget; (6) loss of, or reduction in, business from our largest customers or failure of
our customers to pay amounts due to us; (7) increasing costs or a lack of dependability or availability of transportation
services or infrastructure; (8) our substantial indebtedness and pension obligations; (9) our ability to attract and retain key
personnel and truckload drivers; (10) silica-related health issues and corresponding litigation; (11) seasonal and severe weather
conditions; and (12) extensive and evolving environmental, mining, health and safety, licensing, reclamation, trucking and other
regulation (and changes in their enforcement or interpretation). Additional information concerning these and other factors can be
found in U.S. Silica's filings with the Securities and Exchange Commission. We undertake no obligation to publicly
update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise
required by law.
About U.S. Silica
U.S. Silica Holdings, Inc., a member of the Russell 2000, is a leading producer of commercial silica used in the oil and gas
industry, and in a wide range of industrial applications. Over its 118-year history, U.S. Silica has developed core competencies
in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 200 products
to customers across our end markets. The Company currently operates nine industrial sand production plants and eight oil and gas
sand production plants. The Company is headquartered in Frederick, Md. and also has offices
located in Chicago, Ill. and Houston, Texas.
U.S. Silica Holdings, Inc.
Michael Lawson
Vice President of Investor Relations and Corporate Communications
(301) 682-0304
lawsonm@ussilica.com
Nick Shaver
Investor Relations Manager
281-394-9630
shavern@ussilica.com
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SOURCE U.S. Silica Holdings, Inc.