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Kodiak Gas Services agreed to acquire CSI Compressco in an all-equity transaction valued at about $854 million including $619 million of net debt, creating the largest contract compression fleet with 4.3 million horsepower.
In connection with the Spartan acquisition, John Jackson becomes Chief Executive Officer of CSI Compressco, replacing Brady Murphy, and Jon Byers becomes Chief Financial Officer, replacing Elijio Serrano. The change was announced on January 29, 2021.
Spartan Energy Partners is acquiring from TETRA Technologies the general partner interest, incentive distribution rights and a majority of common units in CSI Compressco. The deal was announced on January 29, 2021, alongside changes to the executive team and board.
CSI Compressco LP completed the relocation and expansion of its East Texas facility from Longview to a 15-acre site in Kilgore, Texas, creating a Center of Excellence for compressor repair, overhaul and aftermarket parts. The facility is staffed by 35 personnel.
