trending Market Intelligence /marketintelligence/en/news-insights/trending/IrceiF-3uy_WjsEnyz7f2A2 content esgSubNav
In This List

Archrock completes acquisition of Elite Compression

Blog

European Energy Insights - May 2021

Blog

Metals & Mining Insights May 2021

Blog

[Report]: 2021 Corporate Renewables Outlook

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective


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.