Bregal Partners has formed Aqua Terra Water Management to serve as an acquisition platform providing water management and disposal services to onshore oilfield customers in North America. Aqua Terra made its first investment through the acquisition of Four Winds Energy Services. Terms of the deal were not disclosed.
Private investment firm Bregal Partners has announced that it has formed Aqua Terra Water Management, L.P. (“Aqua Terra” or the “Company”) to serve as an acquisition and organic growth platform providing water management and disposal services to onshore oilfield customers in North America. Aqua Terra has made its first investment through the acquisition of Four Winds Energy Services Ltd., a leading independent operator of Class 1b and Class II water disposal facilities in Alberta, Canada. Terms of the transaction were not disclosed.
“Having spent a year studying the oilfield water management industry, traveling throughout the U.S. and Canada to visit with a variety of industry players in a number of key producing basins, we are excited today to announce the formation of Aqua Terra and to embark on an aggressive growth plan to build a leading North American water management company that seeks to be best in class in safety and environmentally sound business practices,” said Scott Perekslis, Managing Partner and co-founder of Bregal Partners. “The growing use of hydrofracturing techniques to complete wells in emerging and unconventional light oil plays is creating increased demand for the handling of both frac water and water produced over the life of a well. Through Aqua Terra’s acquisition of Four Winds, we gain both an experienced management team led by Tom Johnston and a compelling entry point into the growing light oil plays of Western Canada.”
Tom Johnston, President and co-owner of Four Winds, added, “Our partnership with Bregal places the Company on a clear path to broaden our service offerings and to expand into new geographies via greenfield development and strategic acquisitions. Bregal’s financial acumen and resources are considerable and will help accelerate our growth initiatives. Moreover, it is important for us to work with a capital partner who knows our industry and understands its key drivers.”
Canaccord Genuity served as financial advisor to Bregal Partners, and Dechert LLP and Stikeman Elliott LLP served as legal advisors.
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 serve customers throughout Alberta, Canada. 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.