AUSTIN, Texas--(BUSINESS WIRE)--Trinity Acquisition, LLC announced today that it has acquired substantially all assets and operations of CCNG Energy Partners, LP, a diversified oilfield waste disposal company with assets located throughout Texas and New Mexico.
The assets, which were acquired out of CCNG Energy Partners’ Chapter 11 bankruptcy, include 27 saltwater disposal facilities and two non-hazardous E&P waste facilities located primarily in the Permian Basin and Eagle Ford Shale. The company will continue to operate as Trinity Environmental Services, the brand under which these assets have historically operated. Trinity, which is financially backed and wholly owned by funds managed or advised by an affiliate of Guggenheim Partners, holds substantial liquidity and no third-party debt at closing.
“We are excited to grow and enhance this unique platform, and to continue providing high quality service to our customers,” stated Diego Rubio, President of Trinity Environmental Services. “We believe that our diverse footprint throughout the country’s most prolific basins and our strong balance sheet will allow for long-term stability and growth.”
Chris Boyle, Managing Director at Guggenheim Partners, stated, “Guggenheim is very pleased to partner with the Trinity team. We feel that this unique platform, experienced management team, and debt-light capital structure will position Trinity as the premier provider of oilfield waste disposal services.”
About Trinity Environmental Services
Trinity Environmental Services is diversified oilfield waste disposal company based in Austin, TX. Trinity offers oilfield waste water and E&P waste disposal solutions throughout Texas and New Mexico.
About Guggenheim Partners
Guggenheim Partners is a global investment and advisory firm with more than $240 billion1 in assets under management. Across our three primary businesses of investment management, investment banking, and insurance services, we have a track record of delivering results through innovative solutions. With 2,500 professionals based in more than 25 offices around the world, our commitment is to advance the strategic interests of our clients and to deliver long-term results with excellence and integrity.
1Assets under management are as of 03.31.2016 and include consulting services for clients whose assets are valued at approximately $56bn.