The direct lending business of Silver Point Capital, a global company in credit investing, participated in the term loan facility supporting the acquisition of Signal Peak Silica, a manufacturer and reseller of high-quality local proppant, by Iron Oak Energy Solutions, a diversified proppant provider in North America.
“The acquisition of Signal Peak Silica solidifies Iron Oak’s position as the leading multi-basin proppant supplier across North America,” Michael Segura, president and CEO of Iron Oak Energy, said. “Signal Peak brings high-quality assets and strong operational capabilities that establish a meaningful position in the Mid-Con and deepen our leadership in the Eagle Ford. We are thankful for the support provided by Silver Point Capital and its partners in the term loan facility.”
Anthony DiNello, head of direct lending at Silver Point Capital, said, “The Silver Point team is pleased to partner with Iron Oak to structure and deliver this customized financing solution. We congratulate the companies on the close of the acquisition, which will broaden Iron Oak’s reach and further enhance its ability to serve customers through the greater deliverability and reliability inherent in operating multiple facilities across key basins at meaningful scale.”
Jefferies acted as sole placement agent for the term loan facility, and Latham & Watkins acted as legal advisor to Iron Oak Energy for the acquisition and financing.
