"This transaction represents a critical step in Gravity's continued evolution into a premier, integrated water midstream platform with leading scale in the Permian Basin. Gravity is the dominant produced water platform in the core of the Midland Basin, which is one of the most active oil and gas regions in the country," said José E. Feliciano, Chairman of Gravity and Co-Founder and Managing Partner of Clearlake, and Colin Leonard, a Partner at Clearlake.

"John Dandolph and his team have consistently demonstrated an ability to grow Unifrax by delivering innovative new products and technologies to its customers," said José E. Feliciano, Co-Founder and Managing Partner at Clearlake, and Colin Leonard, Partner at Clearlake.