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FTS International to Be Acquired by ProFrac for $26.52 Per Share in Cash

Deals & Cases
October 22, 2021
FTS International to Be Acquired by ProFrac for $26.52 Per Share in Cash Background Image
Deals & Cases
October 22, 2021

Vinson & Elkins advised ProFrac Holdings, LLC, a leading oilfield services company, in its entry into a definitive agreement to acquire FTS International Inc. (“FTSI”) in an all-cash transaction that values FTSI at approximately $407.5 million, including payments to outstanding warrants.

Under the terms of the agreement, which has been unanimously approved by FTSI’s Board of Directors, FTSI stockholders will receive $26.52 per share of FTSI common stock in cash. The transaction will create one of the largest completions focused service companies in the U.S. oil and gas industry.

The V&E corporate team was led by partners Chris Collins and Mike Telle, with assistance from associates Charlie Fitzpatrick, Mary Busse and Libby Gerstner. Also advising were senior associate Brett Peace; associates David Bumgardner and Markeya Brown; partner Lina Dimachkieh, senior associate Brian Russell and associate Lauren Nieman; partner David D’Alessandro, counsel Dario Mendoza and associate Mary Daniel Morgan; partner Devika Kornbacher, counsel Rajesh Patel and associate Marcus Martinez; partner Matt Dobbins and associates Austin Pierce and Simon Willis; partner Guy Gribov, senior associate Alex Kamel and associates Joe Higdon and Jeremy Gopin; partner Hill Wellford and counsel David Smith; and partner Jason Powers.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 11 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.

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Key Contacts

Partner
Michael Telle