Summary

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Transaction Structure – $53.8MM cash to Sellers, $20.0MM Seller Note, 22.5% equity ownership.

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Transaction Timeline

January 2008 – ECS was engaged by Texas Sports Sand, Inc. (“TSS” or the “Company”) to sell its industrial sand mining operation.

February 2008 – ECS conducted a broad marketing effort contacting strategic and financial buyers in the oilfield services, E&P, mining and industrials industries.

March-April 2008 – ECS received initial bids from more than 15 groups and conducted negotiations before signing a term sheet with the acquiring private equity sponsor.

June 2008 – TSS closed on its sale of 77.5% of the Company.

Transaction Highlights

Broad Marketing Process – ECS contacted 100+ potential strategic and financial buyers across numerous industry verticals to maximize shareholder value.

Advantageous Structure – The Sellers received a substantial cash payment along with a Seller Note paying 8% per annum and a sizeable equity stake to receive a portion of upside potential.

Outstanding Valuation – The transaction represented and Enterprise Value to the previous years’ EBITDA of 20.7x and Enterprise Value to runrate EBITDA of 7.0x.