Kodiak Gas Services Sold To EQT Infrastructure

Kodiak Gas Services LLC, which operates 1.13 million hp (842 MW) of compression in the United States, has been sold to EQT Infrastructure III Fund for an undisclosed amount.

The seller was Stephens Group LLC, a private investment firm representing the interests of Witt Stephens Jr. and Elizabeth Campbell. EQT is a Stockholm-based firm with more than €50 billion in capital invested across 28 funds.

EQT described Kodiak, which was founded in 2011, as “the fastest-growing and largest privately held contract compression business providing critical compression equipment in the U.S.”

Kodiak serves upstream and midstream producers in the Permian, Eagle Ford, Scoop/Stack and other basins. It has 285 employees and claims a 98% mechanical availability rate.

The company is based in Montgomery, Texas, and will continue to be led by its cofounders, President Mickey McKee and CEO David Marrs.

McKee said, “EQT brings a wealth of knowledge to our partnership and together we will create a platform to continue to attract the best customers, in the best basins, to provide the highest level of contract compression services in the business.”

Archrock is the largest U.S. contract-compression firm with 3.5 million active hp (2610 MW).