Mammoth Energy Services, Inc. announced the sale of its subsidiary, Aquawolf LLC, for an aggregate sales price of $30.0 million.
Aquawolf's revenue and net income showed growth over the years, with revenue reaching $17.3 million in 2024.
The transaction is part of Mammoth Energy's ongoing transformation and portfolio optimization initiatives.
Sale Details
Aquawolf LLC sold for $30.0 million, with Mammoth Energy Partners LLC receiving $23.5 million in cash proceeds at closing.
Revenue Growth
Aquawolf's revenue increased from $12.1 million in 2022 to $17.3 million in 2024.
Strategic Value
The sale demonstrates the strategic value unlocked by Mammoth Energy, showcasing the ability to build and monetize businesses organically.
- The sale of Aquawolf reaffirms Mammoth Energy's ability to create returns and support long-term value for shareholders.
- The company's Chief Financial Officer emphasized the significant value across Mammoth that is not fully reflected in the current share price.
The sale of Aquawolf marks a strategic move by Mammoth Energy Services, Inc. to optimize its portfolio and unlock value for shareholders, showcasing the company's ability to make profitable business decisions.