FTS International $407 million acquisition by ProFrac
We are advising FTS International on the transaction
Davis Polk is advising FTS International, Inc. on the $407.5 million all-cash acquisition by ProFrac Holdings LLC, including payments to outstanding warrants. The transaction is expected to close in the first quarter of 2022, subject to customary closing conditions, including approval by FTSI stockholders and receipt of regulatory approvals.
Headquartered in Fort Worth, Texas, FTS International is a pure-play hydraulic fracturing service company with operations across multiple basins in the United States. ProFrac offers top of the line, high-pressure pumps paired with the toughest frac equipment crafted for longer-laterals and multi-well pads.
The Davis Polk corporate team includes partners William L. Taylor and Cheryl Chan and associates Brian Lee and Doug Howell. Partner Howard Shelanski is providing antitrust and competition advice. The tax team includes partner Michael Farber and Patrick E. Sigmon and associate Elina Khodorkovsky. Partner Adam Kaminsky is providing executive compensation advice. Partner Pritesh P. Shah is providing intellectual property advice. Members of the Davis Polk team are based in the New York and Washington DC offices.