March 20, 2025 – Richmond, VA – Sparkstone Capital Advisors, LLC (“Sparkstone”) is pleased to announce the sale of Orion Water Solutions (“Orion”) to Whitewater Management (“Whitewater”). Sparkstone served as the exclusive capital advisor for Orion. The details of the purchase have not been disclosed.
Founded in 2016, Orion Water Solutions delivers advanced treatment systems that convert wastewater into clean, reusable water. Offering both mobile and fixed facility treatment units, Orion leverages cutting-edge technology to provide scalable solutions across various industries. With a strategic presence in the Permian Basin, the company serves the energy sector as well as industrial and municipal markets along the Gulf Coast.
Gary Griesenback, CEO of Orion, had this to say about the acquisition, “The synergies between our companies are clear and our cultures are a great fit”. He continued, “Unifying our advanced treatment techniques with Whitewater’s capabilities, we can expand our impact and reach while delivering innovative, scalable solutions to a broader range of industries.”
Whitewater Management, a leading fluid management company founded in 2010, along with its production chemical company, Catalyst Production Services, are owned by the Hillcore Group, a prominent independent Canadian investment firm. This acquisition strengthens Whitewater and Catalyst Production Services, positioning them for continued growth while expanding their capacity to deliver advanced water treatment solutions across various industries.
“Whitewater has always been focused on providing high-quality fluid management solutions, and this acquisition is a natural extension of that commitment,” said Rod Stearn, President and CEO at Whitewater. “By integrating Orion’s advanced Dissolved Air Flotation (DAF), Chlorine Dioxide and biological wastewater treatment technologies, we will unlock new opportunities across multiple sectors, including oil & gas, mining, and municipal infrastructure. This is an exciting milestone that will help us continue our trajectory of sustained growth.”
Sparkstone is a financial advisory firm focused on mergers, acquisitions, and capital raising in the energy and industrial sectors. It was founded in 2018 by three partners with decades of collective energy M&A experience. The firm’s goal is to provide independent and unbiased client service, execute transactions efficiently with senior-level bankers, and develop meaningful long-term relationships. More information can be found at www.sparkstonecap.com.