M&A Deal Summary

Kodiak Gas Acquires Compressco

On December 18, 2023, Kodiak Gas acquired energy services and equipment company Compressco for 854M USD

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

M&A Deal Summary
Date 2023-12-18
Target Compressco
Sector Energy Services and Equipment
Buyer(s) Kodiak Gas
Deal Type Add-on Acquisition
Deal Value 854M USD
Advisor(s) Jefferies (Financial)
Vinson & Elkins (Legal)

Target

Compressco

The Woodlands, Texas, United States
Compressco is a provider of compression-based production enhancement services, which are used in both conventional wellhead compression applications and unconventional compression applications, and in certain circumstances, well monitoring and sand separation services. CSI Compressco was founded in 2008 and is based in The Woodlands, Texas.

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Buyer(S) 1

Buyer

Kodiak Gas

The Woodlands, Texas, United States
Category Company
Founded 2011
Sector Energy Services and Equipment
Employees781
Revenue 850M USD (2023)
DESCRIPTION

Kodiak is the largest privately-owned contract compression company in the US. The company currently operates in the Permian, Eagle Ford, and Scoop/Stack basins with over 2.8 million in revenue-generating horsepower. Kodiak’s business model is built on compression and service contracts with fixed monthly fees and no volume-dependent components, bringing predictable and recurring revenues. Kodiak Gas was founded in 2011 and is based in The Woodlands, Texas.

DEAL STATS #
Overall 2 of 2
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Texas) 2 of 2
Country (United States) 2 of 2
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-25 Pegasus Optimization Managers

College Station, Texas, United States

Pegasus Optimization Managers LLC is a natural gas contract compression and solutions provider. Its focus areas include the Marcellus/Utica, Eagle Ford, Permian, and Niobrara shale plays. Pegasus provides turnkey contract compression services, third-party equipment operations, construction project management, and other natural gas services. Pegasus Optimization Managers is based in College Station, Texas.

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