7.7.8.4Vertical
Sand & Proppant Supply
Companies mining and supplying frac sand and ceramic proppants.
Business model & economics
Revenue model
Completion, fracturing, and stimulation service contracts
Key economics
- Recurring revenue
- Low–Moderate
- EBITDA margin
- Highly cyclical with completion activity
- Capex intensity
- High
completion-activity-driven
Characteristics
- Hydraulic fracturing the dominant U.S. activity.
- Largest area of U.S. oilfield-service spending.
- Efficiency, electric fleets, and emissions reduction focus.
M&A deal context
Deal activityModerate
Who’s acquiring
- Completion & pressure-pumping majors
- PE-backed service consolidators
- Equipment & technology acquirers
What’s driving deals
- Frac-market consolidation post-shakeout.
- Electric/dual-fuel fleet and efficiency investment.
- Completion-activity and well-count cycles.
Find Sand & Proppant Supply acquisition targets
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