“Westbury was very responsive throughout the entire process. They kept me informed and offered sound advice in this transaction.”
- Larry Giles II president of Devonian Industries
Westport, CT (PRWEB) May 27, 2011
Westbury Group LLC, a mid-market investment bank, has completed the sale of its client, Devonian Industries, Inc., to Heckmann Water Resources (HWR), a wholly owned a subsidiary of Heckmann Corporation (NYSE: HEK, HEK.WS).
Privately-held Devonian, based in Morgantown, WV, provides water hauling and disposal services to unconventional oil and gas drilling companies within the Appalachian Basin regions. In addition to operating a fleet of vacuum tank trucks, Devonian also provides frac tank rental services in the Marcellus Shale area of southeastern Pennsylvania, southern Ohio and northern West Virginia.
Larry Giles II president of Devonian Industries said, “Westbury was very responsive throughout the entire process. They kept me informed and offered sound advice in this transaction.”
HWR is focused on water solutions for energy development. Now, by acquiring Devonian, HWR is expanding its platform of integrated water solutions and services in the Marcellus Shale region.
About Westbury Group LLC
Westbury Group LLC is a FINRA-registered investment bank providing financial advisory services to entrepreneurial firms valued between $10 million and $250 million. All Westbury managing directors have a minimum 20 years’ transactions experience in the software, IT services, defense/homeland security, consumer products, manufacturing, or financial services industries. The firm initiates M&A transactions, raises debt and equity capital, provides valuations, and advises on strategy. Westbury managing directors Steven J. Guy and Jeffrey S. McDermott initiated this transaction on behalf of Devonian Industries. You can learn more about the Westbury Group at http://www.westburygroup.com.
For further information, please contact
+1 (804) 693-7061
Steven J. Guy
+1 (610) 323-8100