Calgary, Alberta, January 7, 2016
Resource Merchant Capital (“RMC”) today announced that one of its portfolio companies, White Water Management Ltd. (“WWM”), completed a merger with Orion Rentals Ltd. (“Orion”) on January 1, 2016.
Resource Merchant Capital invested in WWM in July 2015 and has been working with management on completing the merger and a number of other strategic initiatives aimed at strengthening the businesses and enhancing company value.
Both WWM and ORN are pioneers in the water management industry and have significant expertise in the safe and environmentally responsible sourcing, transfer and storage of water for oil and gas fracturing operations within Western Canada. The companies are similar in scale and service offering but serve clients in different regions of Alberta. WWM is based in Grande Prairie and ideally positioned to service clients operating within northern Alberta, while Orion is based in Innisfail and ideally positioned to service clients operating within southern and central Alberta.
The merger is intended to provide greater access to equipment and personnel and an expanded geographical footprint, resulting in increased capacity and logistical efficiencies, which will better serve client fracturing operations across the Cardium, Duvernay, Montney and Horn River Shale plays. Together the companies will employ over 130 personnel and maintain an equipment fleet consisting of over 100 km of water transfer hose ranging in diameter up to 10 inches, over 100 pumps, over 90 acid tanks (400bbl), frac ponds ranging in capacity up to 9,300 m3 and a variety of other oil field rental, hauling and support equipment.
Please refer to WWM’s news release for more information on the transaction: http://mwne.ws/1S5XULw
RMC contact information:
T: (403) 993-9968
Resource Merchant Capital (www.resourcemc.com) is an Alberta-based, private capital firm focused primarily on oil and gas product and service companies. RMC partners with technology-focused companies to build world class businesses that drive significant wealth for founders, entrepreneurs, leaders and shareholders.
White Water Management Ltd. (www.whitewatermanagement.ca) is a privately-owned water management company based in Grande Prairie, Alberta. WWM’s services include the sourcing, transportation, storage and recycling of water for hydraulic fracturing operations. WWM works closely with its clients to custom design water management programs that optimize both the economic feasibility and environmental sustainability of their projects. WWM is a trusted supplier to some of the largest producers operating in Canada.
Orion Rentals Ltd. (www.orionrentals.ca) is a privately-owned water management and oil field equipment rentals company based in Innisfail, Alberta. Orion has been supplying oilfield equipment rentals and sales to the Oil & Gas industry since 2005. It specializes in water pumping for fracking from any available water source and provides a comprehensive suite of services including transportation, storage, and equipment rental.