Arrow Holdings and MFA Global, controlled by TDR Capital, are selling 7 million Target Hospitality shares in an underwritten offering.
Target Hospitality announced a secondary offering of 7 million common shares, all sold by existing shareholders Arrow Holdings S.à r.l. and MFA Global S.à r.l. The company will not receive any proceeds from the sale, as the shares are being offered by entities controlled by private equity firm TDR Capital LLP.
The offering follows recent market activity, though Target Hospitality has not disclosed prior secondary sales by these shareholders. The company provides workforce housing and hospitality services, primarily serving energy and infrastructure sectors.
No immediate market reaction was reported following the announcement.