Select Energy Services to Acquire Nuverra Environmental Solutions for $45 Million

Select Energy Services Inc. recently agreed to acquire Nuverra Environmental Solutions Inc. for total consideration of approximately $45 million, capping off a series of M&A activity by the water management company this year.

“We are excited to further expand Select’s world-class sustainable water services and infrastructure footprint through yet another attractive set of consolidation opportunities,” John Schmitz, Select’s chairman, president and CEO, commented in a company release on Dec. 13.

According to the release, Select also closed on the acquisition on Dec. 3 of the U.S. onshore rentals and accommodations operations of HB Rentals LC, a subsidiary of Superior Energy Services Inc. with current operations in the Permian, Haynesville, Midcontinent, Northeast and Rockies regions. In consideration for this acquisition, Select issued 1.2 million shares of Class A common stock and paid $1.5 million in cash, subject to standard post-closing adjustments, to Superior to close the transaction.