Newly-formed Bregal Partners portfolio company Aqua Terra Water Management LP has made its first acquisition.
The company, which provides water management and disposal services to onshore oilfield customers in North America, acquired Four Winds Energy Services Ltd. Aqua Terra will focus on making acquisitions and organically growing the company.
Four Winds operates water disposal facilities in Alberta, Canada. Terms of the transaction were not disclosed.
“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,” says Scott Perekslis, Bregal co-founder.
The deal is one of many in the oil and gas services sector. In October, Riverstone Holdings LLC invested $200 million in Abaco Energy Technologies LLC, a company that focuses on manufacturing and services related to oil drilling. Also in October, First Reserve bought TNT Crane & Rigging Inc., which provides equipment to the energy market.
For more on the energy sector, see “Fracking Fuels Energy Deals.”
Canaccord Genuity was Bregal’s financial adviser on the deal, while Dechert LLP and Stikeman Elliott LLP provided legal advice.