Flotek Acquires Innovative Mobile Power Generation Assets and Secures Multi-Year Lease Providing $160 Million Revenue Backlog and Immediate Earnings Accretion
Flotek(FTK) Prnewswire·2025-04-29 04:05HOUSTON, April 28, 2025 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek") (NYSE: FTK) and ProFrac Holding Corp. (NASDAQ: ACDC) ("ProFrac") today jointly announced Flotek's acquisition of power generation assets and related intellectual property (the "Acquired Assets") from ProFrac GDM, LLC ("ProFrac GDM"), a subsidiary of ProFrac, for $105 million. Flotek concurrently entered into an agreement for a six-year dry lease of the Acquired Assets with ProFrac GDM (the "Lease Agreement"). ESD Skid for Gas Con ...