Natural Gas Services Group Inc. (NGS), a provider of natural gas compression equipment, technology, and services, has acquired Flatrock Compression Holdings (Flatrock).
Flatrock is a provider of rental compression services with operations in the Permian and Eagle Ford Basins. Founded in 2001, Flatrock has a current rented fleet of approximately 86,000 hp (64,156 kW), most of which consists of large horsepower and electric-motor-driven units.
Flatrock’s compression rental fleet includes 3-stage compressors from 145 hp (108 kW) to 1340 hp (999 kW) for use in both single- and multi-well applications.
The acquisition diversifies NGS’s customer base while adding multiple new large customers.
“This acquisition represents an important strategic step for NGS,” said Justin Jacobs, chief executive officer of NGS. “Flatrock has built a high-quality compression business with a strong reputation for field execution, operational excellence, and customer service. The company has assembled an attractive compression fleet, which has grown organically at comparable rates to NGS.”
