Latham Advises on Financing for Apollo Funds’ US$1.85 Billion Acquisition of U.S. Silica Holdings, Inc.

U.S. Silica Holdings, Inc. (NYSE: SLCA), a diversified industrial minerals company and a leading last-mile logistics provider to the oil and gas industry, has announced that it has entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo (NYSE: APO), one of the world's premier investment firms, in an all-cash transaction that values the Company at an enterprise value of approximately US$1.85 billion. The transaction, that has been unanimously approved by U.S. Silica's Board of Directors, is expected to close in the third quarter of 2024, subject to customary closing conditions, including approval by U.S. Silica stockholders and receipt of regulatory approvals.

Latham & Watkins LLP represented the lenders in the financing with a team led by partners Erika Weinberg, Alfred Xue, Josh Holt, Pamela Kellet, and Brianna Oller, with associates Sean Travers, Steve Hao, Hai Pham, Tulika Sinha, and Jack Klein. Advice was also provided on intellectual property and data privacy matters by partner Michelle Gross, with associate Gaby Forte; on labor and employment matters by partner Bradd Williamson, with associate Jaye Han; on sanctions and anti-corruption matters by partner Nicholas McQuaid, with associate Eric Green; and on environmental matters by counsel David Langer, with associate Brittany Curcuru.