Flotek acquires power generation assets, IP of ProFrac GDM for $105M

Flotek Industries (FTK) and ProFrac Holding (ACDC) jointly announced Flotek’s acquisition of power generation assets and related intellectual property from ProFrac GDM, a subsidiary of ProFrac, for $105M. Flotek concurrently entered into an agreement for a six-year dry lease of the Acquired Assets with ProFrac GDM. The Acquired Assets include digitally enhanced mobile natural gas conditioning and distribution units providing real-time gas monitoring and dual fuel optimization for remote, behind-the-meter power generation with applications across multiple markets. With this acquisition, Flotek offers a turnkey solution, leveraging its real-time measurement technology to treat and optimize fuels used in remote power generation applications. The Lease Agreement provides for fixed rates during the first five years, and prevailing market rates during the sixth year. Twenty-two assets will be placed into rental service immediately and 8 additional units are expected to be added throughout the second half of 2025.