Fracking Servicer Pays $245M For PE-Owned Oil Recycler

Law360, New York (March 9, 2012, 4:16 PM EST) -- In a $245 million deal announced Friday, private equity firm CIVC Partners will sell Thermo Fluids Inc., a company that recycles used motor oil, to Heckmann Corp., a Pennsylvania-based provider of water services to shale oil and gas drillers.

The purchase price include $227.5 million in cash and another $17.5 million in stock from Heckmann, a key player in the hydraulic fracturing boom taking place at shale plays nationwide.

The company's equipment helps drillers dispose of the chemical-laced water that comes from fracking, a byproduct that...
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