The merger will grow OMNI’s reach to include the prolific Permian Basin in West Texas and New Mexico and the Powder River Basin of Wyoming and extend Purity’s position into the Gulf Coast and Northeast. (Source: Shutterstock.com)
On Aug. 1, OMNI Environmental Solutions Inc. merged with Purity Oilfield Services LLC to create a new environmental services and equipment organization, according to a press release.
The merger will expand OMNI's reach to the Permian Basin, as well as grow Purity's reach to the U.S. Gulf Coast. Both companies will gain an increased foothold in the Bakken and Barnett plays, as well as the Rockies region.
With a customer base of more than 500 clients, the combined company has multiple offices across the U.S. employing a total of 1,400 employees.
“As a combined company, OMNI and Purity will expand our revenue and greatly enhance our strategic geographic growth,” Courtney Brackin, president and CEO of the combined company, commented in the release.
“The joint forces of our 1,400 employees will afford all of us an opportunity to further develop our vision, strengths, and ability to deliver unparalleled environmental equipment and services. Today’s announcement is just the first step of our integration into a stronger, more robust and ESG-focused service provider.”
Piper Sandler & Co. served as the exclusive financial advisor to Purity, which will continue to operate under its brand name.
A portfolio company of One Equity Partners, Louisiana-based OMNI provides oil and gas companies with environmental solutions to help them reach their climate change and ESG targets. The company operates in the Gulf of Mexico, Haynesville, Eagle Ford, Midcontinent, Bakken/Williston and Marcellus/ Utica regions.
Headquartered in Dallas, Purity provides equipment rentals, water transfer, vac trucks, well testing and flowback and wellsite coordination and services to operators in the Permian, Eagle Ford and Rockies.
“The merger is an outstanding opportunity for Purity and OMNI because our equipment and services complement and augment each other and, more importantly, our corporate cultures are well aligned,” Purity CEO Marshall Hunt said.
“For Purity, this allows cross-selling to OMNI’s large list of blue-chip customers, and for OMNI, expanding its footprint into the Permian in Texas and New Mexico is huge," he continued. "This merger points to a great new future for our combined staff, and we look forward to integrating our Purity ethos and passion with OMNI’s adept, results-oriented team.”
“The merger of OMNI and Purity is the perfect example of the ‘transformative combination’ strategy that One Equity Partners is known for,” JB Cherry, senior managing director of One Equity Partners and OMNI chairman, added. “This transaction instantly makes the companies more competitive, unlocks new business opportunities and creates significant value in the business.”
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