Emerge Energy Services of Southlake plans IPO

Posted Monday, Apr. 01, 2013  comments  Print Reprints
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Emerge Energy Services L.P. of Southlake hopes to raise up to $100 million with an initial public offering and gain a listing on the New York Stock Exchange, the company said in a Securities and Exchange Commission filing.

The partnership is backed by Insight Equity, a Southlake private equity firm.

Emerge Energy's operations include: Superior Silica Holdings, a provider of sand and proppants for hydraulic fracturing; Direct Fuels Partners, which operates a refinery and distribution center in Euless, and Allied Energy Co., which distributes gasoline, diesel and other fuels.

The combined companies in 2012 would have had revenues of $956.9 million and net income of $27.1 million, according to Emerge Energy's IPO documents, filed March 25. Its earnings before interest, taxes, depreciation and amortization (EBITBA), a widely used measure of core operations, would have been $52.3 million, according to the SEC filing.

Its long-term debt would be about $163 million.

Emerge Energy was formed in April 2012. Its CEO is Rick Shearer, 62, who is currently CEO of Superior Silica.

Insight Equity, which was founded in 2002, "makes control investments in strategically viable, middle-market, asset-intensive companies across a wide range of industries. Insight Equity has committed approximately $425 million to 12 investments in North America," according to its website.

Jim Fuquay, (817) 390-7552

Twitter: @jimfuquay

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