TriState Holdings Announces Acquisition of Disposal Assets from Pilot Water Solutions

Dallas, TX – November 17, 2022

Tri-State Vacuum and Rental, LLC (“TriState”), a CIC portfolio company, announced the acquisition of certain saltwater disposal wells and associated equipment from Pilot Water Solutions SWD LLC. The acquisition further solidifies TriState’s position as the leader in logistics and waste disposal in the Haynesville Shale region.

Based in Joaquin, Texas, TriState leverages a fleet of hundreds of trucks and nearly a dozen disposal sites to provide timely, end-to-end water management solutions to oil and gas companies across the Haynesville. The company’s founders – Troy and Abby Massey – partnered with CIC Partners in 2020 to expand their business primarily via acquiring saltwater disposal facilities with the plan to vertically integrate their product offering. This latest acquisition strengthens the Company’s position as the leader in Haynesville logistics and services by operating and controlling the best disposal facilities in the basin.

“The business has really grown at an incredible rate ever since CIC’s initial investment,” commented Troy Massey, TriState founder and CEO. “It has not always been easy to keep up with the growing demand for our services, but we believe we have leveraged our unique assets and amazing people to give customers a consistent, reliable experience.”

CIC Managing Director and TriState Board member Bayard Friedman added, “Since we partnered with TriState, Haynesville daily gas production has grown 39%. To keep up with customer demand, TriState has invested tens of millions growing its fleet and disposal infrastructure. This latest acquisition provides significant new capacity to enable Tristate to continue to grow market share and provide the best customer service in the basin.”

Chris Cowan, CIC Sector Partner and TriState Board member offered, “As CEO, Troy has done a great job leading the team and growing the company through multiple challenges from trucking shortages to labor bottlenecks, always with an eye on upholding the company’s reputation for excellent service. When the opportunity arose to acquire additional disposal wells, we knew we had the team that could execute against an ambitious growth plan so we did what we could to provide support.”

About CIC Partners
CIC Partners is a middle-market private equity firm that invests in growth-oriented companies primarily in the food, restaurant, industrial, and energy industries. CIC manages the personal capital of its investment team, operating partners and strategic investors and seeks to partner with owner-operators, founders and management teams. CIC looks for opportunities where it can leverage the collective experience of its investment team and its operating partners, who are successful CEOs and entrepreneurs, to guide, support and add value to portfolio companies. Based in Dallas, Texas, the firm has been generating wealth in private equity investing for its investors and management teams for over 30 years. For additional information, please visit

About Tri-State Holdings LLC
Headquartered in Joaquin, Texas, Tri-State is a leading provider of water management solutions including transportation and disposal services primarily to oil and gas producers working in the Haynesville Shale. Tri-State’s experienced workforce, focus on safety, extensive fleet of vehicles and disposal assets enables reliable project execution. For more information, please visit

Media Contact
Phone: 214-871-6812