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Archrock completes acquisition of Elite Compression

Texas-based natural gas compression services provider Archrock Inc. and its subsidiary Archrock Services LP completed the previously reported acquisition of JDH Capital Co. portfolio company Elite Compression Services LLC for $205 million in cash and 21,656,683 shares of Archrock common stock, according to an Aug. 1 securities filing.

The acquisition, which includes approximately 430,000 of predominately large-horsepower compression assets, was granted antitrust clearance in mid-July. The cash consideration was funded by Archrock Partners Operating LLC using borrowings from its revolving credit facility.

In addition, Archrock's board voted to increase its size from eight to nine members, with the vacancy to be filled by Hilcorp Energy Co. Executive Chairman and founder Jeffery Hildebrand.

JDH Capital is a private investment firm that Hildebrand established to manage his assets.