Select Water Solutions completes $700 million Pilot Water acquisition
Select Water Solutions closed its purchase of Pilot Water Solutions, a private water‑midstream operator in the Delaware Basin. The deal was paid with about $600 million in cash and 5,149,331 Class A shares, and includes a possible $15 million contingent payment tied to early‑2027 milestones. At closing the company also activated a $500 million revolving credit facility and terminated its prior sustainability‑linked credit facility.
Why it matters
The acquisition expands Select’s footprint in the Delaware Basin, adding contractual revenue and capacity that could boost future water‑service volumes. The new $500 million revolving credit facility provides liquidity to fund the deal and future growth, while the termination of the $550 million sustainability‑linked facility removes that debt obligation.
Key facts
- 1Select closed the acquisition of Pilot Water on a debt‑free basis for an aggregate consideration of approximately $700 million. prnewswire.com
- 2The consideration included approximately $600 million in cash paid at closing. prnewswire.com
- 3The consideration also included 5,149,331 shares of Select’s Class A common stock. prnewswire.com
- 4One seller is entitled to an additional $15 million contingent payment upon meeting operational milestones expected in early 2027. prnewswire.com
- 5In connection with the closing, Select’s new credit agreement provides a $500 million revolving credit facility. prnewswire.com
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.