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M&A Deal Summary

Qualus Acquires Aquawolf

On December 2, 2025, Qualus acquired energy services and equipment company Aquawolf from Mammoth Energy Service for 30M USD

Acquisition Highlights
  • This is Qualus’ 4th transaction in the Energy Services and Equipment sector.
  • This is Qualus’ largest (disclosed) transaction.
  • This is Qualus’ 12th transaction in the United States.
  • This is Qualus’ 1st transaction in Colorado.

M&A Deal Summary
Date 2025-12-02
Target Aquawolf
Sector Energy Services and Equipment
Buyer(s) Qualus
Sellers(s) Mammoth Energy Service
Deal Type Divestiture
Deal Value 30M USD

Target

Aquawolf

Lakewood, Colorado, United States
Aquawolf is an infrastructure-engineering firm specialising in power delivery and utility projects. Aquawolf provides services across the full lifecycle of energy-infrastructure projects, including conceptual design, detailed engineering, construction support, surveying, and project close-out. Its work covers overhead and underground transmission & distribution (T&D) lines, natural gas pipelines, substations, generation and renewables (hydro, solar, wind, gas, battery storage, etc.), and project management or owner-engineering support. Aquawolf was founded in 2019 and is based in Lakewood, Colorado.

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Buyer(S) 1

Buyer

Qualus

Cincinnati, Ohio, United States
Category Company
Founded 2018
Sector Energy Services and Equipment
DESCRIPTION

Qualus is a provider of engineering and specialized technical field services to utility and private power grid infrastructure. Qualus was founded in 2018 and is based in Cincinnati, Ohio.

DEAL STATS #
Overall 14 of 14
Sector: Energy Services and Equipment M&A 4 of 4
Type: Divestiture M&A Deals 3 of 3
State: Colorado M&A 1 of 1
Country: United States M&A 12 of 12
Year: 2025 M&A 4 of 4
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-03 Dk Engineering

Walnut Creek, California, United States

Dk Engineering is a multidisciplinary engineering and consulting firm providing technical expertise and responsive solutions for power infrastructure projects. Dk Engineering was founded in 1979 and is based in Walnut Creek, California.

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Seller(S) 1

SELLER

Mammoth Energy Service

Oklahoma City, Oklahoma, United States
Category Company
Founded 2016
Sector Oil/Gas Exploration
Employees639
Revenue 188M USD (2024)
DESCRIPTION

Mammoth Energy Service is an operator of a growth-oriented oilfield service company serving companies engaged in the exploration and development of North American onshore unconventional oil and natural gas reserves. Mammoth Energy Service was founded in 2016 and is based in Oklahoma City, Oklahoma.

DEAL STATS #
Overall 1 of 1
Sector: Energy Services and Equipment M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Colorado M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-26 Chieftain Sand and Proppant

Garland, Arkansas, United States

Chieftain Sand and Proppant LLC is a manufacturer and supplier of frac sand and proppants for natural gas and oil wells, as well as a producer of industrial minerals for specialty markets and aggregates for the construction industry. Chieftain Sand and Proppant was founded in 2009 and is based in Garland, Arkansas.

Buy $36M
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