Aqua Terra Water Management LP has announced yet another acquisition this time picking up two saltwater disposal facilities and making its way into the U.S. market.
Borejaks Energy Services LLC operated the North Dakota-based facilities. Terms of the deal were not disclosed.
The move allows Aqua Terra, which has been picking up assets in Canada, entry into the U.S. saltwater disposal industry. In July, the company announced that it bought Integrity Custom Processing Inc. and assets from Kasten Energy Inc., both wastewater disposal groups. Before that, in January, the group added Ceiba Energy Services Inc. and Phyllis Disposal Inc.
Aqua Terra subsidiary Four Winds Energy Services Ltd. recently announced it would open two saltwater treatment facilities in Alberta, Canada.
Jonson Rice & Co. was Aqua Terra’s financial adviser, while Dechert LLP provided legal advice. Deerpath Capital Mangaement LP provided financing for the deal.
Aqua Terra is backed by private equity firm Bregal Partners. The New York firm focuses on investments in energy services, consumer, food, retail and health care companies. For more on the firm, see “3Q’s with Scott Perekslis, Co-Founder, Bregal Partners.” According to Mergers & Acquisitions Mid-Market Pulse, expansion in the energy sector is expected to lag behind growth in other markets.