Tailwater Capital LLC, an energy-focused private equity firm based in Dallas, announced the sale of Petro Waste Environmental to WM Energy Services Holdings, LLC, an indirect wholly owned subsidiary of Waste Management, Inc. Terms of the transaction were not disclosed.
Based in San Antonio, Texas, Petro Waste Environmental was originally funded by Tailwater in 2014 in partnership with founder and chief executive officer George Wommack and has since grown to become a leading provider of comprehensive oilfield environmental services and solid waste disposal serving the Permian Basin and Eagle Ford Shale Play, two of the most economically active oil and gas producing regions in the U.S.
Since inception, Petro Waste Environmental has organically permitted five landfills, acquired two landfill permits and built five state-of-the-art facilities, strategically increasing its footprint and proximity to exploration and production activity in the West Texas region while improving its service and disposal capabilities for its valued customers.
Published in the May 2019 Edition