RADNOR, Pa.--(BUSINESS WIRE)--Preferred Sands recently acquired Winn Bay Sand in conjunction with a $376 million debt offering. The debt offering was secured through J.P. Morgan and the transaction was led and managed by Barclays Capital and KeyBanc Capital Markets. The transaction was finalized on December 15, 2011.
On January 4, Preferred Sands announced that the company had acquired substantially all the assets of Winn Bay Sand, including mining locations in Blair, Wisconsin and Hanson Lake, Saskatchewan, Canada. As a part of this acquisition, Preferred Sands has offered employment to the existing 110 Winn Bay Sand employees and will take over supply of Winn Bay Sand’s current customers. Preferred Sands will expand both of the newly acquired plants in 2012 to further increase capacity.
About Preferred Sands
Preferred Sands is an owner-operated frac sand and proppant company launched in 2007 with its first silica sand mine in Genoa, Nebraska. Since that time, we have been steadfastly committed to building a business with the best products, service, logistics management, and employee culture in the industry. Preferred Sands is committed to being stewards of the land.
Preferred Sands is a privately-held company that leverages a ‘family-owned’ philosophy to acquire businesses that share a common theme: market scarcity that other investors have overlooked with the opportunity to add value through a creative, community-minded vision. www.preferredsands.com