CSL Capital Management and High Roller Group Sell Permian Sand Mine & Plant Assets to Wisconsin Proppants
Acquisition of the Kermit, Texas mine & plant assets by Wisconsin Proppants provides WP with an industry-leading footprint and sand production capability in West Texas.
HOUSTON/MIDLAND, TEXAS, October 23, 2018—CSL Capital Management and High Roller Group announced the sale of its Kermit Texas mine & plant assets to Wisconsin Proppants (WP), a leading sand producer.
The addition of the Kermit mine north of Kermit, Texas, to WP’s flagship mine near Monahans, Texas, establishes WP as one of the top regional sand producers in the Permian Basin. With proximity and direct access to the Delaware and Midland oil fields, WP is now well positioned geographically to optimize trucking efficiency for its client base.
Existing customers will continue to have access to Kermit production capacity and, in addition, can take advantage of WP’s Monahans, Texas, and Hixton, Wisconsin, capacity as well as benefit from wider distribution network and world-class service delivery platform.
CSL and High Roller began shipping sand from its Kermit operations in West Texas on Jan 23, 2018, after a 7-month construction project.
The state-of-the-art hydraulic fracturing sand facility is located on a private road with direct access to FM1218 – 8 miles north of Kermit, Texas. It can load over 400 trucks per day and is situated perfectly to use low traffic flow to Northern Delaware and Northern Midland.
The facility is committed to a safer, eco-friendly environment, with approved conservation plans for the Dunes Sagebrush Lizard (DSL) that goes beyond mitigation to active habitat creation in partnerships with both state and local authorities and environmental groups.
Simmons & Company International, Energy Specialists of Piper Jaffrey & Co., acted as financial advisor to CSL in the transaction.
About Wisconsin Proppants
Wisconsin Proppants LLC is a leading provider of premium-quality sand used by the oil and gas industry to improve well productivity. Quality assurance, planning leadership, and geographical advantages enable us to deliver products on time with maximum quality.
Adding value to our customers is our major objective, driving cost- and time-effective delivery of high-quality product over a robust sand distribution network.
For more information, please visit www.wisconsinproppants.com
About CSL Capital Management
CSL Capital Management, L.P. (“CSL Capital”) is an SEC-registered investment firm focused on energy services and equipment businesses in the U.S. Headquartered in Houston, Texas, CSL Capital was founded in early 2008.
The current CSL Capital portfolio includes several de novo, growth, recapitalization, and other investments.
CSL Capital’s partners include financial institutions, endowments, foundations, and family offices, among other institutional groups. Since its 2008 inception, CSL Capital has raised in excess of $1.5 billion in equity capital and commitments across various investment vehicles.
For more information, please visit www.cslenergy.com
About High Roller Group
High Roller Group is an operational holding company that develops and manages investments across multiple industry segments, with a primary focus concentrated toward energy, infrastructure, or industrial end markets.
The company focuses on investing in high growth opportunities and generally partners with other owners or management to execute a given strategy.
High Roller will continue to participate in the North American hydraulic fracturing sand proppant market through its subsidiary, High Roller Sand.