SC Water, LLC, a natural gas and oil industry investment group based in Pennsylvania, announced Tuesday that it closed on the previously announced acquisition of Keystone Clearwater Solutions (Keystone), a specialized water management firm that serves the Appalachian Basin’s energy industry.
As part of the acquisition from American Water Works Company, Inc., Keystone formed a strategic partnership with Hydro Recovery LP (Hydro), a water treatment, recycling, and transportation company. Management of Keystone and Hydro has been combined and will be led by CEO Tom Stabley, President and Chief Operating Officer Dan Dalton, and Chief Financial Officer Curt Walker.
“The acquisition of Keystone and the corresponding strategic partnership uniquely creates an industry-leading portfolio of water-related and environmental solution services for natural gas and oil companies,” Lance T. Shaner, chairman of SC Water, said. “We’re excited to once again be part of Keystone Clearwater Solutions and look forward to integrating our services with Hydro to deliver first-rate, one-stop solutions to customers across the Appalachian Basin.”
“The combined companies’ operational strengths and abilities to provide specialized services for our customers creates an exciting, significant, and long-term growth opportunity,” Stabley said. “This integrated partnership expands our deep capabilities of delivering tailored water solutions that our customers have come to expect from both companies.”
Stabley and Dalton are leading an integration team consisting of representatives from Keystone and Hydro.
“This strategic partnership and broadened platform of services will help our customers effectively manage complex, challenging, and evolving business demands that require tailored solutions,” Dalton said. “Drawing on our collective and proven operational capabilities, we’re thrilled and excited to continue providing enhanced, industry-leading services to our customers as their needs evolve.”