Privately held ProFrac Holdings LLC has clinched an all-cash agreement worth around $407.5 million to absorb FTS International Inc., which could create one of the largest pressure pumping companies focused in the Lower 48.

FTS

ProFrac, based in Willow Park, TX, was formed in May 2016 by CEO Ladd Wilks and his brother Matthew Wilks, who is CFO. FTS, headquartered in Fort Worth, TX,  is a publicly held pure-play hydraulic fracturing provider that provides completions services across the Lower 48. 

“We have long respected FTS and the people that have guided them through the past few years to the position of strength they are in today,” said Ladd Wilks. “Together, these two organizations, which share an employee-centric vision and approach to operating in a dynamic industry, will...