NRC Group acquires Wellsite Wastewater Treatment provider

Oct. 26, 2018
Acquisition of Quail Run Services strengthens NRC Group's waste disposal offering in both the Permian and Eagle Ford basins.

NEW YORK, OCT 26, 2018 -- Hennessy Capital Acquisition Corp. III (NYSE American: HCAC.U, HCAC, HCAC.WS) ("HCAC" or the "Company") announced that NRC Group Holdings, LLC ("NRC Group") has completed the acquisition of Quail Run Services, LLC ("Quail Run").

Quail Run is a leading provider of wellsite wastewater treatment services throughout five disposal sites in the Eagle Ford Shale and Permian Basin. Its state-licensed facilities are designed to properly treat domestic wastewater and then discharge/reuse the processed effluent that meets or exceeds state-provided effluent parameters. Quail Run's facilities are manned seven days per week by a licensed operator, and its facilities are driver-friendly with easy access and provide for simple unloading.

"One of our goals at NRC Group is to help our upstream customers manage all of the waste volumes that are created by their activities in the Permian and Eagle Ford basins," said Chris Swinbank, CEO of NRC Group. "The addition of Quail Run allows us to further those efforts by providing professional stewardship of yet another waste stream created by our existing roster of blue-chip E&P customers."

A summary of the terms of the transaction are contained in HCAC's definitive proxy statement filed with the Securities and Exchange Commission (the "SEC") on October 1, 2018 on pages 120-121 under the heading "Interim Acquisition."