M&A Deal Summary

Enerflex Acquires Exterran

On January 24, 2022, Enerflex acquired energy services and equipment company Exterran from Equity Group Investments for 1.5B USD

Acquisition Highlights
  • This is Enerflex’s 3rd transaction in the Energy Services and Equipment sector.
  • This is Enerflex’s largest (disclosed) transaction.
  • This is Enerflex’s 2nd transaction in the United States.
  • This is Enerflex’s 1st transaction in Texas.

M&A Deal Summary
Date 2022-01-24
Target Exterran
Sector Energy Services and Equipment
Buyer(s) Enerflex
Sellers(s) Equity Group Investments
Deal Type Add-on Acquisition
Deal Value 1.5B USD
Advisor(s) Wells Fargo Securities (Financial)
King & Spalding LLP
McCarthy Tétrault (Legal)

Target

Exterran

Houston, Texas, United States
website
Entrance to Exterran's corporate headquarters in Houston, Texas.
Entrance to Exterran's corporate headquarters in Houston, Texas.
Exterran is a provider of natural gas contract compression services to customers throughout the United States. Exterran was founded in 1954 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

Enerflex

Calgary, Alberta, Canada

website

Category Company
Founded 1980
Sector Oil/Gas Exploration
Employees2,000
Revenue 960M CAD (2021)
DESCRIPTION

Enerflex is a publicly traded, globally operating company that engineers, designs, manufactures and provides after-market support for equipment, systems and turnkey facilities used to process and move natural gas from the wellhead to the pipeline. Enerflex was incorporated in 1980 and is based in Calgary, Canada.

DEAL STATS #
Overall 3 of 3
Sector (Energy Services and Equipment) 3 of 3
Type (Add-on Acquisition) 2 of 2
State (Texas) 1 of 1
Country (United States) 2 of 2
Year (2022) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-19 Mesa Compression - Compression Business

Oklahoma City, Oklahoma, United States

Mesa Compression LLC - Compression Business consists of 689 compression packages totaling approximately 112,000 horsepower, running at utilization levels above 85% and having an average fleet age of approximately 7 years.

Buy $106M

Seller(S) 1

SELLER

Equity Group Investments

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1969
Size Large
Type Sector Agnostic
DESCRIPTION

Equity Group Investments is a private investment group formed by Sam Zell. The Firm looks for opportunistic investments in a variety of sectors including energy, healthcare, logistics, manufacturing, transportation, media, and real estate. Equity Group Investments was established in 1969 and is headquartered in Chicago, Illinois.

DEAL STATS #
Overall 2 of 3
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 1
Country (United States) 2 of 3
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-05 Able Freight Services

Los Angeles, California, United States

Able Freight Services LLC is a provider of airfreight forwarding services with a focus on time-sensitive perishable goods. Able Freight’s cold chain transportation and logistics services include air freight, ocean freight, warehousing/cold storage, brokerage, e-commerce, and related technology services. Able Freight Services LLC was founded in 1993 and is based in Los Angeles, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-01 Entertainment Earth

Simi Valley, California, United States

Entertainment Earth is an online retailer of toys, figurines and accessories aimed at collectors and fans. Entertainment Earth was founded in 1996 and is based in Simi Valley, California.

Buy -
Mergr

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