DENVER, May. 6, 2026 /PRNewswire/ -- Eight Quarter Advisors (“EQA”), is pleased to announce its role as the sell-side transaction advisor to Drilling Mud Direct (“DMD”) in its acquisition by Broadwater Capital (“Broadwater”), a Private Investment firm based in Fargo, North Dakota focused on growing founder-built businesses that support critical US infrastructure in a variety of industrial subsectors.
Based in Denver, Colorado, DMD is a national provider of drilling fluid products, additives, equipment parts, consumables, and consulting and engineering services to the horizontal directional drilling (HDD), oil field services, pipeline infrastructure, and civil construction markets. “The partnership with Broadwater accelerates our plans to grow our distribution reach and meet the upcoming exponential demand for pipelines and infrastructure within the data center and natural gas industries. We’re excited to take DMD to the next level with more customer support, an expanded stock point network, and critical technology for the future,” said Clint Pitman, Founder and President of DMD.
The alignment with Broadwater establishes a strategic platform for expansion and will strengthen existing customer relationships, supplier networks, and logistics advantages that are rare in drilling fluid distribution. “DMD had reached an inflection point and needed a partner with whom it could chart its next course of growth, in an industry poised to deliver it. They have the market position, industry relationships, and relentless drive to capitalize on the opportunity ahead,” noted Matt Williams, managing director at EQA.
From day one, EQA took the time to really understand our business and what mattered to us as a team,” further remarked Clint Pitman. “Their guidance through the entire process was invaluable, they brought us a partner who shares our vision for what DMD can become, and we couldn’t have achieved a better outcome.”
About Eight Quarter Advisors
Eight Quarter Advisors, a Denver and Boston-based M&A advisory firm, provides transaction representation to exceptional lower middle-market companies that appeal to the institutional buyer markets, but often do not fit the client profile of traditional middle-market investment banks. The firm was founded to provide a level of knowledge, experience, and transaction sophistication that is rarely accessible to a market that stands to benefit from it most.