Onterris Acquires Permian Basin Environmental Lab; Terms Not DIsclosed

PBELab is a locally owned and qualified National Environmental Laboratory Accreditation Program (NELAP) lab located in Midland, Texas. As a provider of organic analysis, inorganic analysis and wet chemistry for soil and water, PBELab will integrate into the Company’s lab division, providing the first brick-and-mortar location in the Permian.

"We are pleased to announce PBELab is joining Onterris and enhancing our capabilities across the Permian, serving Texas and New Mexico," said Vijay Manthripragada, President and Chief Executive Officer of Onterris. "We have multiple opportunities in the region and believe offering the full spectrum of environmental services locally will serve as a key differentiator for Onterris. Our established network of laboratories will augment the capabilities offered in Midland, creating new opportunities to serve customers locally while advancing our mission for planet and progress."

"We are looking forward to being a part of Onterris," said Raland Tuttle, Founder and President of PBELab. "Coming together allows us to provide greater services and a true end-to-end experience to our existing clients. We have already started partnering together on projects and are seeing the value that can be created for our clients and employees."

Todd, Barron, Thomason, Hudman, Bebout & Rodriguez, P.C. acted as the legal advisor to PBELab.