Waste Management Inc. said its subsidiary WM Energy Services Holdings LLC acquired Petro Waste Environmental from the energy-focused private equity firm Tailwater Capital LLC.
Financial terms of the transaction were not disclosed.
Petro Waste Environmental provides oilfield environmental and solid waste disposal services in the Permian Basin and Eagle Ford Shale regions.
Tudor Pickering Holt & Co. served as financial adviser and Stinson Leonard Street provided legal counsel to Waste Management on the deal. Barclays acted as financial adviser and Thompson and Knight LLP provided legal counsel to Petro Waste.