Preferred is seeking to raise up to $50mm through an equity offering with a preferred coupon and a share of the common, to support the growth of the Resin Coated Sand (RCS) business and the continued development and launch of its Dust and Totalix businesses. In response to the demand for competitive…
Preferred is seeking to raise up to $50mm through an equity offering with a preferred coupon and a share of the common, to support the growth of the Resin Coated Sand (RCS) business and the continued development and launch of its Dust and Totalix businesses.
In response to the demand for competitive and efficient products that drive margins, Preferred began pivoting towards a technology solutions provider with the development of the RCS product line. Since its initial introduction and launch in Q4 2012, the IP protected RCS product line has grown organically from zero in January 2013 to roughly 10% market share in January 2014. Preferred’s RCS growth strategy is designed to triple RCS' earnings in the next 12 months, driven by continued market penetration of its two existing products and introduction of new resin products in 2014.
Today, Preferred is focused on leveraging its industry relationships and in-house technology team to discover new technologies with strong margins and growth potential and provide the necessary capital, management expertise and distribution capabilities to develop these technologies and bring them to market. Preferred is capable of leveraging its industry tier one supplier status to expand its product line servicing North America.
Currently, Preferred is on schedule to divest its sand assets by Q2 2014. Preferred sees significant growth opportunity in the oil and gas industry’s rising demand for excellence in service and performance and differentiated technologies to enhance efficiency and drive margins.
Team (1)
Sectors Preferred Sands serves:
Energy & Utilities
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