Buffett's Pilot Explores Sale of Water Management Unit
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Berkshire Hathaway’s Pilot Travel Centers is considering the sale of its water-management services unit, as the truck-stop chain focuses on its primary businesses, according to people familiar with the deliberations.
Pilot is working with financial advisers on efforts to sell the unit, Pilot Water Solutions, one of the people said, asking not to be identified because the deliberations aren’t public.
Pilot could ultimately decide not to pursue a deal, the people said. The travel firm didn’t confirm deliberations but said in a statement that it’s “evaluating opportunities to strengthen its core retail and wholesale business.”
A spokesperson for Warren Buffett’s Berkshire declined to comment.
With more than 850 miles of pipelines, Pilot Water Solutions provides sourcing, recycling and water disposal services to companies in the energy sector in Appalachia, the Rockies and Texas.
Separation tanks stand at a Colgate Energy site in Reeves County, Texas. (Callaghan O'Hare/Bloomberg)
Pilot, which operates more than 750 locations in the U.S. and Canada under the brand Pilot Flying J, reported a roughly 17% drop in revenue last year as gas prices declined. Higher operating costs also weighed on its pretax earnings, which fell 42% to $614 million in the same period.
Berkshire acquired an initial stake in Pilot in 2017, boosted it in 2023 and bought the remaining share the next year.
The conglomerate typically lets its businesses run independently.
Pilot Co. ranks No. 28 on the Transport Topics Top 100 list of the largest private carriers in North America.
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