Milestone Environmental Services Announces Investment from Riverstone Holdings

Milestone Environmental Services (“Milestone” or “the Company”), a
portfolio company of Intervale Capital, LLC (“Intervale”), today
announced that Riverstone Credit Partners, L.P., a dedicated energy
credit fund managed by Riverstone Holdings LLC (“Riverstone”), provided
a line of credit to Milestone. Financial terms were not disclosed.

“We are very pleased to announce our partnership with Riverstone, one of
the world’s most experienced energy investors,” stated President and
Chief Executive Officer, Gabriel Rio. “The capital provided by
Riverstone in this transaction is truly transformational for our
business and will enable us to pursue multiple strategic growth
opportunities.”

“Our capital commitment to Milestone reflects the confidence that we
have in the Milestone
team‘s track record and their operational excellence,” said Managing
Director at Riverstone, Christopher Abbate. “Their proprietary
process and environmental
commitment positions them well to support their customers in the
markets they serve. We are pleased to partner with Milestone and support
their growth going forward.”

“We have a long-standing relationship with Riverstone Holdings and are
excited to partner with its credit arm to fund Milestone’s growth
plans,” said Tuan Tran, Partner at Intervale Capital. “Management has
done an excellent job positioning the Company as the preferred vendor
for oilfield waste disposal services among U.S. oil and gas producers.
Capital from Riverstone will help fund capacity expansion and new
disposal facilities necessary to meet customers’ growing waste
management needs.”

About Milestone Environmental Services

Milestone Environmental Services is an oilfield environmental services
provider with an environmentally-focused, cost-effective, and efficient
approach to managing oilfield waste. Milestone operates
strategically-located, state-of-the-art disposal facilities that provide
dependable, local services for leading U.S. oil and gas operators.
Milestone is a premium provider of injectable oilfield waste disposal,
operating for more than 20 years. The company is headquartered in
Houston, Texas, and currently has seven injection locations in Texas.
For more information, please visit www.milestone-es.com.

About Intervale Capital

Founded in 2006, Intervale Capital is a specialized energy-focused
investment firm. Intervale invests primarily in middle-market energy
services and manufacturing companies. The firm has raised $1.3 billion
of committed capital since its inception, and is currently investing its
third fund. For more information, please visit www.intervalecapital.com.

About Riverstone

Riverstone is an energy and power-focused private investment firm
founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with
over $34 billion of capital raised. Riverstone conducts buyout, growth
capital and credit investments in the exploration & production,
midstream, oilfield services, power, and renewable sectors of the energy
industry. With offices in New York, London, Houston, and Mexico City,
Riverstone has committed over $34 billion to more than 130 investments
in North America, South America, Europe, Africa, Asia and Australia. For
more information about Riverstone, please visit the company’s web site
at www.riverstonellc.com.

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