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Unimin Corporation completed the acquisition of Fairmount Santrol Holdings Inc., with Fairmount shareholders receiving $170 million in cash and 35% of the combined company, while Sibelco owns the remaining 65%.
Fairmount Santrol and Unimin have merged in a $170 million deal. The new company will also operate a 96-terminal logistics division.
Fairmount Santrol and Unimin Corporation, a subsidiary of SCR-Sibelco NV, announced a definitive agreement to combine in a tax-free cash and stock transaction. The combined company will have an estimated 45 million tons of annual processing capacity and expects $150 million in annual synergies.