DALLAS, Texas – Coltala Holdings has announced the launch of Coltala Water Holdings with the acquisition of Alsay, Inc., one of Texas’ oldest and largest water well drilling and service companies.
Founded in 1960 and headquartered in Houston, Alsay has delivered deep water well drilling, pump systems and water infrastructure services to municipalities, utilities and industrial clients across Texas for more than 40 years. The company operates one of the largest fleets of drilling equipment in the state and brings together a supervisory team with over 200 years of combined experience.
This acquisition comes at a critical moment for Texas. With one of the fastest-growing populations in the U.S., demand for clean, reliable water is rising rapidly. In response, Governor Greg Abbott has prioritized long-term infrastructure investments to ensure Texas communities and businesses have access to sustainable water resources—a mission Coltala is proud to advance.
“This is exactly the kind of company Coltala was built to support—legacy-rich, mission-critical, and positioned for smart growth,” said Ralph Manning, co-founder and co-CEO of Coltala Holdings. “We’re bringing the Coltala Enterprise System to help scale Alsay’s impact and deliver lasting value to Texas communities.”
“We’re proud to welcome Alsay into the Coltala family,” said Edward Crawford, co-founder and co-CEO of Coltala. “As a Navy veteran and former Peace Corps member, I know how essential water is to community resilience. This investment reflects our commitment to building great American companies that serve people and protect vital infrastructure.”
The acquisition was backed by a coalition of seasoned financial partners: BankUnited served as senior lender, and Gladstone Capital, represented by Eric Malloy of Dallas, provided mezzanine financing.
Joe Slavik, president of Alsay, added, “Joining Coltala marks an exciting new chapter for Alsay. Their focus on operational excellence and purpose-driven growth aligns with our values and sets us up for continued success.”
Coltala Water Holdings extends Coltala’s “mission and margin” strategy—acquiring and scaling essential service businesses while creating high-quality jobs and delivering long-term value. Coltala Holdings operates in over 20 states across aerospace, healthcare, real estate and now, water.
