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PE-backed Aqua Terra makes new purchases in Texas

Aqua Terra Water Management LP, a merchant operator of salt water disposal facilities with significant Canadian assets, has made new acquisitions in the Midland Basin of west Texas. It bought two saltwater disposal facilities operated by Texas SWD Co Inc and a permit for a facility from Coronado Minerals LLC for an undisclosed amount. Aqua Terra was formed by U.S. private equity firm Bregal Partners last November. Its first investment was Grande Prairie, Alberta’s Four Winds Energy Services Ltd.

PRESS RELEASE

Aqua Terra Water Management Announces Expansion into the Permian Basin

October 23, 2014

NEW YORK–(BUSINESS WIRE)–Aqua Terra Water Management, L.P. (“Aqua Terra” or the “Company”) has announced the acquisition of two saltwater disposal facilities operated by Texas SWD Co, Inc and the acquisition of a permit for a salt water disposal facility from Coronado Minerals, LLC. Terms of the acquisitions were not disclosed.

“Over the next several months we will continue to devote corporate resources to augment our presence in west Texas.”

The acquired facilities are located in the Midland Basin of west Texas in Reagan and Upton counties. Both facilities serve producers operating in the prolific Spraberry and Wolfcamp formations.

“The acquired facilities meet our high standards for best in class safety and service and will function as anchors for our newly established Permian region,” said Scott Perekslis, Managing Partner and co-founder of New York-based private investment firm Bregal Partners, which formed Aqua Terra in November 2013. “Over the next several months we will continue to devote corporate resources to augment our presence in west Texas.”

Mark Harris, CEO of Aqua Terra further commented “The presence of multiple stacked producing formations across the Permian Basin ensures that west Texas will continue to be the leading onshore oil producing region in the U.S. for quite some time. The water management needs in the Permian have grown dramatically over the past several years as producers are increasingly driving production growth via new unconventional formations.”

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 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, 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.

Contacts

BackBay Communications
Doug Allen, 212-520-1385 ext. 5
doug.allen@backbaycommunications.com

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