Select Energy Services, Inc. executed a definitive agreement to acquire Gregory Rockhouse Ranch Inc. for $56.5 million.
January 22, 2017
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Select Energy Services, Inc. (NYSE:WTTR) executed a non-binding letter of intent to acquire Gregory Rockhouse Ranch Inc. for $48.5 million on November 22, 2016. Out of total consideration, 75% will be paid in cash and 25% will be paid in equity. Select Energy Services will fund the cash portion of the consideration with a portion of the net proceeds of its public offering. Select Energy Services, Inc. executed a definitive agreement to acquire Gregory Rockhouse Ranch Inc. for $56.5 million on February 24, 2017. Out of total consideration, 51 million will be paid in cash and 5.5 million will be paid in 0.27 million shares of Select Energy Services' Class A common stock. The consideration is subject to customary post-closing adjustments. Select Energy Services will fund the cash portion of the consideration with borrowings under its credit facility. The transaction is subject to customary closing conditions including completion of satisfactory accounting, financial and other due diligence related to Gregory Rockhouse Ranch.
Select Water Solutions, Inc. is a provider of sustainable water and chemical solutions to the energy industry. The Company operates in three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment consists of its services businesses, including water sourcing, water transfer, flowback and well testing, fluid hauling, water monitoring, water containment and water network automation, serving exploration and production (E&P) companies. The Water Infrastructure segment provides recycling, gathering, transferring and disposal of water. Its operations are enabled by a network of permanent pipeline infrastructure, semi-permanent pipeline infrastructure, water recycling facilities, earthen pits, water sources and SWDs. The Chemical Technologies segment develops, manufactures, manages logistics and provides a full suite of completion chemical products utilized in hydraulic fracturing, stimulation, cementing and related well completion processes.
SELECT WATER SOLUTIONS, INC. 
