Transactions & Cases Detail



Transaction/Case Details

Produced Water Absorbents completes C$9.2 million acquisition of ProSep Inc.'s assets

DATE CLOSED

November 15, 2013

BUSINESS SECTOR

Technology

LEAD OFFICE

Montreal

VALUE

9.2 Million CAD


OVERVIEW

On November 18, 2013, Produced Water Absorbents, Inc. and its subsidiaries (PWA) completed a C$9.2 million acquisition of the operating assets of oil and gas technology company ProSep Inc. and are launching a combined portfolio of patented solutions to treat oil, natural  gas and produced water. The company will now operate the business units as PWA-ProSep and will relocate its headquarters and laboratory to new premises on the Bingle Road area of Houston with supporting manufacturing and assembly facilities at a separate site in the city. The company's global reach will include regional offices in Aberdeen, Scotland and Kuala Lumpur, Malaysia.

Produced Water Absorbents, headquartered in Houston, Texas, is a provider of produced water treatment solutions and services to the oil and gas industry.

ProSep, originally headquartered in Montreal, Quebec, is an oil and gas technology company.

McCarthy Tétrault LLP represented Produced Water Absorbents as acquiror, with a team that included Maxime Léveillé, Jocelyn Perreault, Mason Poplaw, Ryan Rabinovitch, and Véronique Wattiez Larose.

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