Led by Edward Crawford and Ralph Manning, the Dallas-based private equity firm has acquired Alsay, a Houston water well drilling and services company, in one of its largest deals to date.
On the heels of its aerospace expansion, Coltala Holdings’ latest play is in water. In early July, the Dallas-based private equity firm acquired Houston-based Alsay, a water well drilling, service, and booster pump installation company with 150 employees. The deal is among Coltala’s largest to date. “It was not quite a $100 million deal, but it was a large transaction,” said Coltala CEO and co-founder Edward Crawford.
Founded in 1960, Alsay has built hundreds of wells across Texas, with more than 30 projects currently underway—from routine pump diagnostics to large-scale municipal contracts. Under the guidance of its former owner, Lone Star Advisors, Alsay has built a backlog exceeding $100 million and achieved a 25 percent CAGR. Its services include well rehabilitation, which restores and extends the life of aging wells, with long-term projects for clients such as the City of Houston and the San Antonio Water System.