Private equity-backed Aqua Terra Water Management LP has acquired three saltwater disposal facilities in the U.S.
The facilities were operated by Superior Disposal Services LLC and located in west Texas. The saltwater disposal operations provide services to oil and gas companies working in the Spraberry and Wolfcamp formations, which are in the Permian basin in west Texas. Terms of the deal were not disclosed.
Aqua Terra was formed by New York private equity firm Bregal Partners in November 2013. With this acquisition, the company now operates five commercial disposal facilities in west Texas, and seven in the U.S. The group picked up two North Dakota facilities in August.
Dechert LLP was Aqua Terra's legal adviser. Deerpath Capital Management LP provided financing for the deal.
There have been several recent investments in services for the oil and gas industry. Among deals announced earlier in December were: Littlejohn & Co.’s acquisition of PSC Industrial Holdings Corp., which provides maintenance services for energy infrastructure; and First Reserve’s investment in Hoover Container Solutions.