NEW YORK--(BUSINESS WIRE)--Aqua Terra Water Management, L.P. (“Aqua Terra” or the “Company”) has announced the acquisition of three saltwater disposal facilities operated by Superior Disposal Services, LLC (“Superior”). Terms of the acquisition were not disclosed.
The three acquired facilities, which in the aggregate consist of five wells licensed for commercial disposal, are located in the Midland Basin in west Texas in Glasscock and Upton counties. All three facilities serve E&P customers producing in the Spraberry and Wolfcamp formations.
“The acquisition of the three facilities previously operated by Superior is consistent with our stated goal of increasing Aqua Terra’s presence in the Midland Basin,” said Scott Perekslis, Managing Partner and co-founder of New York-based private investment firm Bregal Partners, which formed Aqua Terra in November 2013. “Together with the assets recently acquired from Texas SWD Co. Inc, the Company now operates five high volume commercial disposal facilities in the Midland Basin and is a growing presence in west Texas.”
Mark Harris, CEO of Aqua Terra, further added, “E&P customers are increasingly demanding higher levels of service, professionalism, and amenities with respect to their water disposal providers. Superior’s facilities are best in class and are an ideal addition to Aqua Terra’s growing network of commercial disposal facilities.”
Dechert LLP served as the legal advisor to Aqua Terra and Deerpath Capital Management, LP provided financing for the acquisition.
About Aqua Terra Water Management, L.P.
Aqua Terra Water Management, L.P. is a leading independent merchant operator of salt water disposal facilities. Its current network of 18 Class 1b and Class II facilities operating or under development serves customers throughout the Canadian provinces of Alberta, Saskatchewan, and British Columbia as well as U.S. producers in North Dakota and Texas. Aqua Terra is actively seeking greenfield development opportunities and acquisitions in both the U.S. and Canada.
About Bregal Partners
Bregal Partners is a private investment firm that invests alongside management teams to build industry leading companies in the middle market. Areas of focus include energy services, consumer, food and retail, and healthcare. With $500 million of committed capital funded by a sixth-generation family foundation with roots back to 1841, Bregal Partners brings experience, stability, and a long-term outlook to all of its investment activities. Bregal Partners is part of Bregal Investments, a global family of private equity and fund investment vehicles that has invested more than $9 billion since 2002. For more information on Bregal Partners, please visit www.bregalpartners.com.
