Select Water Acquires Pilot Water in a $700 Million Cash-and-Stock Deal
Select Water Solutions (WTTR) has agreed to acquire private water midstream firm Pilot Water Solutions for approximately $700 million, combining cash and stock. The deal also includes up to an additional $15 million in contingent consideration based on performance metrics. The acquisition is expected to strengthen Select Water's position in the water infrastructure sector by expanding its asset base and geographic footprint. Pilot Water operates midstream assets that support oil and gas operations through produced water handling, which aligns with Select Water’s core business strategy of providing integrated water solutions for energy markets. This strategic move reflects growing demand for efficient water management services within the energy industry, particularly as companies seek to reduce costs and environmental impact.
Tickers: $WTTR
Topics: M&A Water Industry