Gordon Brothers Group and Hilco Industrial Acquire Mining Assets of Preferred Sands in Canada
For sales inquiries please contact Jim Burke from Gordon Brothers Group’s Commercial & Industrial Division at (617) 422-6232 or [email protected].
Gordon Brothers Group and Hilco Industrial, a unit of Hilco Global, announced today that they have acquired certain assets comprising the Hanson Lake, Saskatoon, facility of Preferred Sands of Canada, ULC. The Hanson Lake facility has been a top manufacturer and provider of premium silica sand for the hydraulic fracturing industry.Preferred Sands recently concluded that the Hanson Lake facility was no longer strategic to its expanding Canadian operations after determining that it can supply its Canadian customers with premium Northern White sand from Preferred Sands’ Wisconsin locations more cost-efficiently. Preferred Sands remains dedicated to expanding its services in the Canadian market by delivering the best quality product to its customers at the most-efficient distribution cost. In a continuous effort to leverage logistical capabilities to minimize customer costs, Preferred Sands is continuing to substantially expand its Canadian terminal network in areas strategic to its customers’ operations.
“We are pleased to have reached an agreement with Preferred Sands to acquire its high-quality Hanson Lake facility assets in a deal that is beneficial to all parties involved,” stated Jim Lightburn, Managing Director of the Commercial & Industrial Division of Gordon Brothers Group.
Gordon Brothers Group has valued and monetized billions of dollars of energy and industrial assets worldwide. In 2014, Gordon Brothers appraised over $3 billion of energy assets and also undertook the largest hydraulic fracturing disposition project of its kind for Green Field Energy Services, involving a portfolio of equipment valued at more than $250 million.
Hilco Industrial has valued and monetized billions of dollars of industrial assets and is currently working with the world’s leading energy and global geophysical companies who service the oil and gas industries.
While the acquired assets have served sand mining applications for the oil & gas industry, they have adjacent uses in many other industries, including general mining, construction and infrastructure development.
About Preferred Sands
Preferred Sands, headquartered in Radnor, PA, is one of North America’s largest manufacturers and providers of frac sand for oil and natural gas companies in the hydraulic fracturing industry. Launched in 2007 Preferred Sands is the market’s only commercial manufacturer with an available green technology in resin-coated sand. The company’s innovative RCS product line has been recognized by the Oil & Gas Awards as the “Environmental Initiative of the Year” for 2013. With this innovative product development and reclamation projects, the company is not only committed to the protection of the environment but also the health and safety of the communities it serves. Preferred Sands has been named to Inc. 500’s prestigious annual list of “Fastest Growing Private Companies in America” (2013) as well as one of Pennsylvania’s “Best Places to Work."