RECENT RELEASES
U.S. Silica Company-
Business
U.S. Silica Company (“USS”) was the second largest producer of industrial sand in North America with 22% market share and the #1 or #2 positions in most of its local markets. The company supplied well-diversified, growing end markets including glass, building products, fillers/extenders, foundry, chemicals, oil and gas, matrix materials and ceramics.
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Harvest Partners Investment
In August 2007, Harvest purchased USS with the existing management team. To fund the acquisition Harvest arranged the debt financing, which included a senior credit facility and a second lien financing. In addition, Harvest arranged equity co-investment capital for the transaction. Harvest sold its investment in US Silica to Harbinger Capital Partners in October 2007.
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Investment Thesis
- Strong brand and market leader
- Steadily growing industry
- Proven management team
