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ATB Financial Provides Financing in Aqua Terra Acquisition

August 13, 2015, 07:11 AM
Filed Under: Specialty Industries

Aqua Terra Water Management, L.P.  has announced the acquisition of Advance Hydrocarbon Corporation. ATB Financial provided financing for the acquisition and terms of the acquisition were not disclosed.

Advance Hydrocarbon Corporation owns a vertically integrated network of seven commercial disposal facilities served by 62 company operated vacuum trucks in the College Station, Texas region. Advance serves customers producing out of the Austin Chalk, the Eagleford, the Woodbine, and the Eaglebine plays.

“Advance has a long history of delivering industry leading service to the largest producers in the College Station region,” said Mark Harris, CEO of Aqua Terra. Mark further commented that “Together with Advance’s experienced management team, we look forward to continuing to provide this same level of service and adding capacity within the system.”

Scott Perekslis, Managing Partner and co-founder of New York-based private investment firm Bregal Partners, stated, “Advance’s strategic focus on produced water is consistent with Aqua Terra’s operating philosophy.” Mr. Perekslis further stated that “The acquisition of Advance combined with recent facility openings in the Canadian Bakken and the Alberta Montney substantially enhances the Company’s presence in the leading unconventional plays in the U.S. and Canada.”

Aqua Terra Water Management, L.P. is a leading independent merchant operator of salt water disposal facilities.

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