Aqua Terra Water Management LP, which was formed last year by U.S. private equity firm Bregal Partners, said Friday that it has acquired saltwater disposal assets from Canadian companies Ceiba Energy Services Inc and Phyllis Disposal Ltd. No financial terms were disclosed. Canaccord Genuity advised Aqua Terra on the deal. Update: The acquisition was made by Aqua Terra subsidiary Four Winds Energy Services Ltd, a Grande Prairie, Alberta-based operator of Class 1b and Class II water disposal facilities that was bought in Nov. 2013. Aqua Terra said the latest transaction marks its initial entry point into the Canadian Bakken and the heavy oil corridor around Lloydminster, Saskatchewan.
January 24, 2014
GRANDE PRAIRIE, Alberta & NEW YORK–(BUSINESS WIRE)–Four Winds Energy Services Ltd, a wholly owned subsidiary of Aqua Terra Water Management, L.P. (“Aqua Terra” or the “Company”), has announced the acquisition of selected saltwater disposal assets from Ceiba Energy Services Inc. and Phyllis Disposal, Ltd. The acquisitions mark the Company’s initial entry point into the Canadian Bakken and the heavy oil corridor around Lloydminster, Saskatchewan. Terms of the acquisitions were not disclosed.
“The Canadian Bakken and the heavy oil corridor are both prolific oil producing regions with attractive economics for exploration and production companies. We expect to dedicate additional resources over the coming months to enhance our market presence in both of these regions. Our partnership with Bregal Partners and Aqua Terra has allowed Four Winds to greatly accelerate its rate of growth and to broaden its geographic network to better serve customers,” said Tom Johnston, President of Four Winds Energy Services, Ltd. Canaccord Genuity served as financial advisor to Aqua Terra, and Stikeman Elliott LLP served as legal advisor.
About Aqua Terra Water Management, L.P.
Aqua Terra Water Management, L.P. is an independent merchant operator of salt water disposal facilities. Its current network of Class 1b and Class II facilities serves customers throughout the Canadian provinces of Alberta and Saskatchewan. 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.
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