Phoenix Service Partners targets expansion

A Phoenix Servic Partners project. The Texas-based natural gas contract compression and solutions company has closed on a $150 million asset-based lending (ABL) facility that includes an additional $100 million accordion feature. This strategic financing initiative was closed concurrently with Phoenix’s $100 million equity partnership agreement, further strengthening the company’s financial foundation and growth trajectory. (Image: Phoenix Service Partners)

Phoenix Service Partners has outlined an aggressive expansion strategy aimed at building a leading presence in the gas compression services sector. The Texas-based company plans to scale operations and strengthen its footprint in key U.S. regions, leveraging new financial backing to fuel its growth.

The company said the latest moves signal a clear commitment to expanding market share, investing in equipment, and enhancing service capabilities. CEO Randy Dean said Phoenix will prioritize operational excellence while accelerating its growth strategy.

“Our goal is to become the premier gas compression service company,” Dean said. “We’re now positioned to expand our market presence, invest in best-in-class equipment, and deliver superior value to our customers and partners.”

Phoenix’s expansion strategy is supported by a newly secured $150 million asset-based lending facility, which includes a $100 million accordion feature for future growth. The credit facility was arranged by a bank group led by First Horizon Bank and Texas Capital Bank. In parallel, the company also entered a $100 million equity partnership agreement.

“These transactions are a testament to the strength of Phoenix and our long-term vision,” Dean added.

CFO Jacob Campbell noted that the financial partners bring not only capital but also a deep understanding of the industry. “We’re excited to work with experienced institutions like First Horizon, who bring strong industry knowledge and integrity. Their support reinforces our ability to execute our growth plan.”

Phoenix aims to meet growing demand in the compression market by broadening its reach, optimizing operations, and maintaining a strong focus on customer satisfaction.