EnAqua in debt deal to fund fracking growth

Livingstone Chicago’s Debt Advisory team has successfully secured a financing package that allows EnAqua Solutions LLC to expand its capacity and secure additional waste water hauling contracts.  EnAqua, is backed by Progress Equity Partners. Headquartered in Dallas, EnAqua is an oil and gas development waste disposal company that provides integrated solutions for the rapidly developing shale gas fracking industry in the United States.

The Company has established an operating presence in the Haynesville and Eagle Ford shale basins in Texas and provides a combination of services including solids and water storage, full service transportation of oil field waste, waste water disposal (flowback and produced) and solids disposal (drill cuttings and mud).

“Livingstone’s knowledge of the broader specialised debt markets together with their sector experience allowed us to concentrate on running our business while they seamlessly worked through the transaction details to secure the debt package necessary to execute our growth plans,” commented Ralph Manning, Partner at Progress Equity Partners.

“Livingstone has recently completed four debt financings for equity sponsors including Calvert Street Capital Partners and Tensile Capital Management. The EnAqua transaction required specialised lenders which understood the sector and collateral. Our access to these lenders enabled us to run a competitive debt process which resulted in the best pricing, terms and structure for our client,” said Tom Lesch, Director at Livingstone Chicago.