The Riverstone/Carlyle Global Energy and Power Funds Monday announced completion of the acquisition of USA Compression Holdings LP, the parent company of USA Compression Partners LLC, a natural gas compression services company headquartered in Austin and Dallas, TX. Terms of the transaction were not disclosed.
The purchasers are a group of energy-focused private equity funds managed by Riverstone Holdings LLC. Riverstone refused to comment recently on rumors it is pursuing the purchase of BP's Canadian natural gas liquids business (see Daily GPI, Dec. 27).
Founded in 1998, USA Compression is the largest pure-play contract compression service provider in the United States, with approximately 610,000 hp of compression equipment deployed across 13 states in the Central and Northeast regions. USA Compression focuses on long-lived, large-horsepower infrastructure applications, with most of its fee-based compression services provided on large regional gathering systems. The company has a strong presence in the fastest growing natural gas shale plays, including the Marcellus, Fayetteville, Haynesville, Eagleford, Woodford and Barnett shales.
Eric D. Long, CEO of USA Compression, said, "We are pleased to partner with Riverstone, an organization with deep knowledge and experience in the midstream sector.