FMSA News

Smart Sand Partners LP, an MLP formed by Clearlake Capital to own frac sand production assets in Wisconsin, filed on Thursday with the SEC to raise up to $100 million in an initial public offering. Frac IPOs Smart Sand Partners LP initially filed confidentially on August 29, 2014, just one week after close competitor Fairmount Santrol (FMSA) filed publicly. Fairmount...read more

11 IPOs priced during the week of September 29, but only 3 had any meaningful gains, including two tech deals and American Addiction Centers, a network of substance abuse treatment centers. The group raised $2.4 billion; 25% less than expected after frac sand maker Fairmount Santrol cut its deal size 60% to just $400 million. Fairmount was one of five offerings with private equity...read more

Fairmount Santrol, the US's second-largest provider of frac sand used in oil and gas drilling, raised $400 million by offering 25 million shares (all from selling shareholders) at $16, below the range of $21 to $24. The company had originally planned to sell 44.5 million shares; proceeds raised were 60% below the $1 billion contemplated at the midpoint of the original...read more

Heightened IPO activity continues with 11 IPOs set to raise $3.2 billion this week, following the nine companies that went public last week. The week ahead should see five private equity-backed IPOs, including four LBOs and one...read more