Daily News: July 18, 2013

Livingstone Advises Progress Equity Portfolio Debt Financing

Livingstone announced the successful growth capital raise for EnAqua Solutions, a portfolio company of Progress Equity Partners. The financing allows EnAqua to expand its capacity and secure additional waste water hauling contracts. Livingstone acted as the exclusive financial advisor to EnAqua. Terms of the deal were not disclosed.

Headquartered in Dallas, TX, EnAqua is an oilfield waste disposal company that provides integrated solutions for the emerging development of unconventional shale plays in the U.S. The company has established an operating presence in the Haynesville and Eagle Ford shale basins and provides a combination of services including, solids and water storage, full service transportation of oil field waste, waste water disposal (flowback and produced) and solids disposal (drill cuttings and mud).

“Livingstone’s knowledge of the broader specialized debt markets coupled with their sector experience allowed us to concentrate on running our business while they seamlessly worked through the transaction details to secure the debt package necessary to execute our growth plans,” said Progress Equity partner Ralph Manning.

“Livingstone has recently completed four debt placements for equity sponsors, including similar assignments for Calvert Street Capital Partners and Tensile Capital Management. This transaction required specialized lenders who understood the sector and collateral. Access to these lenders enabled us to run a competitive debt process which resulted in the best pricing, terms and structure for our client,” commented Livingstone Debt Capital Markets director Tom Lesch.