Smart Sand Partners has filed an S-1 form with the US Securities and Exchange Commission for an initial public offering.
No terms were set for the offering, but the filing is for $100 million. The company will list on the Nasdaq Global Market under the symbol SSLP. The underwriter for the offering are Goldman Sachs and Credit Suisse.
Smart Sand Partners produces of Northern White frac sand and owns and operates a sand mine and related processing plant on 1,168 acres near Oakdale, Wisconsin.
For the year ended in December, Smart Sand Partners generated pro forma adjusted EBITDA of $16.4 million and pro forma net income of $12.4 million. For the nine months ended in September, the company generated pro forma adjusted EBITDA of $26.6 million and pro forma net income of $23.1 million.