Heckmann to Acquire CVR

Heckmann is to acquire Texas-based water disposal and transport company Complete Vacuum and Rental (CVR) for $66m.

The acquisition includes cash, the assumption of debt, stock and an earnout based on particular growth metrics.

The US-based water company says the acquisition will add to its revenue and enhance its produced water expertise.

CVR specialises in providing a complete range of water and wastewater service solutions to the exploration and production industry.

The acquisition is expected to close by the end of November 2010.