EQT Infrastructure (EQT) has acquired Kodiak Gas Services LLC (Kodiak) from The Stephens Group LLC, a private investment firm. Kodiak will maintain its corporate headquarters in Houston, USA, under the continued leadership of President Mickey McKee, CEO David Marrs, and the Kodiak management team.
Founded in 2011, Kodiak is among the largest privately-owned contract compression company in the United States, with more than 1.13 million hp (842,980 kW) deployed. Kodiak provides contract compression and related services for both the upstream and midstream segments in the Permian, Eagle Ford, Scoop/Stack, and other basins of the United States.
EQT will support Kodiak in its next phase of development as the company focuses on continued expansion and enhancing the its service offerings.
“Kodiak’s differentiated service offering, strong commitment to customers, and critical infrastructure at every juncture in the oil and gas value chain make it unique in its industry, embodying EQT Infrastructure’s approach of targeting high-quality, industry leading, stable businesses with transformation potential,” said Alex Darden, partner at EQT Partners. “We are impressed with Kodiak’s continued transformation through data implementation and strong growth and believe that the company’s ambition and people will continue to have positive impacts going forward. We are excited to help build and shape the next phase of development for Kodiak and look forward to working with such a talented group of people and outstanding executive management team who share the same culture, values, and drive as EQT.”
“We are extremely excited to be partnering with EQT to continue to grow Kodiak as the premier provider of contract compression services in the US,” said Mickey McKee, president of Kodiak. 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. With our focus on the essential, large horsepower infrastructure-type compression applications, coupled with our relentless commitment to runtime and customer service, Kodiak is well-positioned to continue to profitably grow and take market share.”