Solaris Oilfield Infrastructure (SOI) to Acquire Mobile Energy Rentals, Issues Q2 Update
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Solaris Announces Agreement to Acquire Mobile Energy Rentals; Announces Renaming to Solaris Energy Infrastructure; Issues Second Quarter Financial Update
July 9, 2024 5:47 PM EDTHOUSTON--(BUSINESS WIRE)-- Solaris Oilfield Infrastructure, Inc. (NYSE: SOI) (Solaris or the Company), today announced that it has entered into a definitive agreement to acquire Mobile Energy Rentals LLC (MER), a premier provider of distributed power solutions serving the energy and commercial & industrial (C&I) end-markets, for a purchase price of $200 million. Transaction consideration includes $60 million of cash and the issuance of approximately 16.5 million shares of Solaris Class B common stock to MERs founders and management team, who will join Solaris post-closing.
Transaction Highlights and Strategy
Scale, end-market diversity, and contractual... More