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

The Nuverra acquisition builds upon Select Energy Services’ recent M&A strategy of consolidating sizable existing infrastructure portfolios, says CEO John Schmitz.

Hart Energy Staff

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.

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