Milestone Environmental Services LLC, a portfolio company of Intervale Capital, said Tuesday it has acquired an oilfield waste facility currently under construction near Smiley, in Gonzalez County, Texas. Financial terms and the seller were not disclosed.
HOUSTON, Jan. 5, 2016 /PRNewswire/ — Milestone Environmental Services, LLC (“Milestone” or the “Company”) announced today that it has acquired an oilfield waste facility currently under construction near Smiley, in Gonzalez County, Texas through a newly-formed subsidiary. The facility will add to Milestone’s extensive footprint in the Eagle Ford region of South Texas.
Milestone is an industry-leading innovator and one of the first companies in the U.S. to commercially use slurry injection, a process that has set new standards for efficiency and environmental security in the management of oilfield waste. Intervale Capital (“Intervale”) acquired Milestone, which was then known as American Disposal Services, in October 2014.
Gabriel Rio, Milestone’s President and Chief Executive Officer, commented, “We are excited to add the Smiley facility to Milestone’s network of oilfield waste disposal sites. With six strategically positioned locations throughout the Eagle Ford and Haynesville Shale regions, we are able to provide our customers with a nearby, safe, environmentally sustainable solution for the disposal of oilfield waste.”
Tuan Tran, Partner at Intervale, added, “The Smiley transaction marks the successful completion of the first stage of Milestone’s geographic expansion. Intervale looks forward to supporting Milestone’s management team as the company pursues its growth strategy.”
About Milestone Environmental Services:
Milestone is a national oilfield environmental services provider with an environmentally focused, cost-effective, and efficient approach to managing oilfield waste. Milestone operates strategically located, state-of-the-art disposal facilities that provide dependable, local services for leading U.S. oil and gas operators. The Company is headquartered in Houston, Texas, and currently has six injection locations in South and East Texas.
About Intervale Capital:
Intervale Capital is an energy-focused private equity firm with offices in Houston and Boston. Intervale invests primarily in middle-market oilfield services and manufacturing companies and related technologies. The firm has raised $1.3 billion of committed capital since its inception in 2006 and is currently investing from its third fund.