Water you waiting for? Select Energy Services sets terms for $175 million IPO

Select Energy Services, which provides water services for hydraulic fracturing, announced terms for its IPO on Wednesday.

The Gainesville, TX-based company plans to raise $175 million by offering 10.6 million shares at a price range of $15 to $18. At the midpoint of the proposed range, Select Energy Services would command a market value of $1.1 billion and an enterprise value of $1.0 billion.

Select Energy Services was founded in 2007 and booked $302 million in sales for the 12 months ended December 31, 2016. It plans to list on the NYSE under the symbol WTTR. Credit Suisse, FBR Capital Markets, Wells Fargo Securities, BofA Merrill Lynch, Citi and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of April 17, 2017.

The article Water you waiting for? Select Energy Services sets terms for $175 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.