This acquisition is a strategic opportunity for Synagro to service the oil & gas industry, supporting the exploration for renewable energy sources while continuing to reduce our overall impact on the environment.
Houston, TX (PRWEB) June 23, 2011
Synagro Technologies, Inc. announced today that it has acquired Drilling Solutions, LLC. headquartered in Lafayette, LA, with operations in three states. The acquisition provides access to the oil and gas sector, leveraging the Company’s dewatering expertise and reach. Additionally, the acquisition aligns closely with Synagro’s centrifuge repair business, Hypex, and allows Drilling Solutions to improve operating efficiency of its closed loop dewatering systems, reduce downtimes and maximize performance.
“Drilling Solutions was a logical acquisition for Synagro as both Companies specialize in aspects of waste water management and successfully create value for their respective customers,” explained Bill Massa, president and CEO, Synagro. “This acquisition is a strategic opportunity for Synagro to service the oil & gas industry, supporting the exploration for renewable energy sources while continuing to reduce our overall impact on the environment.”
Drilling Solutions is well known in the industry for its high degree of customer satisfaction and its sustainable, closed loop system. The Company, which enjoys a high safety rating and strong compliance record, will now be able to offer customers incremental services like permitting, land application and compliance support. This expanded and complimentary services suite will position the Company for growth with no impact to customers or vendors.
“Drilling Solutions is proud to become a part of the Synagro family,” stated Mark Guidry, CEO, Drilling Solutions. “We look forward to leveraging the managerial and technical expertise Synagro will bring to our organization and growing the operations, making us the premier provider of dewatering and solids management services to the oil and gas industry.”
Mark Guidry will be the General Manager of the new entity, Synagro Drilling Solutions, and will be responsible for driving an aggressive growth strategy and running day-to-day operations. Guidry continued, “Drilling Solutions success, both past and future, is driven by the experienced and dedicated workforce that delivers top quality service and expertise every day.”
This acquisition provides Synagro with a new platform for growth within the oil & gas industry through the addition of closed-loop solids control and waste management expertise. This is currently a $500 million industry that has experienced rapid growth through the increase of land drilling rigs in the shale regions of the U.S., and increased regulation of the oil & gas drilling industry that has encouraged companies to seek more specialized expertise in solids control and waste management.
About Drilling Solutions:
Founded in 2007, Drilling Solutions, LLC. is an oilfield service company located in Lafayette, LA that provides closed-loop solids control and waste management services to the oil & gas industry. The Company currently provides services and equipment to various oil & gas exploration and production companies within the Eagle Ford, Bakken, Barnett, and Haynesville shale regions of the U.S. As one of the fastest growing solids control and waste management companies in the U.S., the Company has developed a loyal customer base through its technical expertise, knowledgeable staff, and exceptional service.
Founded in 1986, Synagro, http://www.synagro.com, provides a system of solutions for civic and commercial organizations that manages by-products to create new, environmentally compelling options. The Company’s reliable, lasting system transforms industrial and municipal waste into environmentally-sustainable resources that benefit our communities and our planet— before an environmental footprint is left behind. As the largest recycler of organic by-products in the United States, Synagro uses best-in-class processes from beneficial reuse to renewable energy that adhere to the strictest of environmental regulations to provide sustainable solutions for communities across the nation. Serving more than 600 municipal and industrial water and wastewater facilities throughout the U.S., the Company’s leading systems of by-product management services help municipalities of all sizes save money and meet environmental regulations.
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