Mammoth Energy Services Completes $30 Million Sale of Its Subsidiary Aquawolf to Qualus
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Mammoth Energy Services has completed a sale of all equity interests in its wholly owned subsidiary, Aquawolf to Qualus for an aggregate sales price of $30 million, advancing the company’s ongoing transformation and portfolio optimization initiatives.
Aquawolf’s revenue grew from $12.1 million in 2022 to $17.3 million in 2024, with net income rising from $1.1 million to $1.8 million over the same period. For the nine months ended September 30, 2025, Aquawolf generated $12 million in revenue and $1.3 million in net income.
“This transaction provides another clear proof point of the strategic value we’ve unlocked this year. We entered the engineering business in 2018 with one manager and a small initial investment, and over time built it into a team generating $17.3 million of revenue in 2024. Monetizing this business for approximately $30 million is a strong outcome and a credit to the people who built the business,” said Mark Layton, Mammoth’s chief financial officer.
“More importantly, this sale reinforces our belief that the underlying value across Mammoth is significantly disconnected from the current share price. We’ve shown an ability to build and monetize businesses organically, and we’ll continue to deploy capital where it creates returns and supports long-term value for shareholders,” added Layton.
Mammoth Energy Services is an integrated, growth-oriented company providing a diversified suite of rental, infrastructure, and energy services across North America. Mammoth’s offerings span specialized equipment rentals supporting aviation, construction, and energy operations, as well as utility infrastructure solutions, including engineering, design, and fiber optic services. The company also provides natural sand proppant for hydraulic fracturing, directional drilling services, and workforce accommodation facilities designed to support large-scale projects in remote locations. By combining technical expertise with a broad service platform, Mammoth helps customers achieve greater efficiency, flexibility and value across their operations.
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