Sweden’s EQT Infrastructure III fund announced Monday it’s acquired U.S. contract compression company Kodiak Gas Services from private investment firm The Stephens Group for an undisclosed price.
(EQT Infrastructure is not related to U.S.-based independent natural gas producer EQT Corp.)
Founded in 2011, Kodiak is one of the largest privately-owned contract compression company in the U.S., providing compression equipment for crude oil production and natural gas transportation, Kallanish Energy learns.
“Kodiak’s differentiated service offering, strong commitment to customers and critical infrastructure at every juncture in the oil and gas value chain make the company unique in their industry, embodying EQT infrastructure’s approach of targeting high-quality, industry leading, stable businesses with transformation potential,” said Alex Darden, partner at EQT Partners, investment advisor to EQT Infrastructure.
Kodiak will remain headquartered in Houston, under the continued leadership of president Mickey McKee and CEO David Marrs. “We are extremely excited to be partnering with EQT to continue to grow Kodiak as the premier provider of contract compression services in the U.S.,” said McKee.
Simpson Thacher & Bartlett served as legal advisor to EQT Infrastructure. Jefferies acted as financial advisor and Kirkland & Ellis served as legal counsel to Kodiak.
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