Kodiak Gas Services Completes Acquisition of CSI Compressco
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Description
Kodiak Gas Services completed its acquisition of CSI Compressco, creating the industry's largest contract compression fleet.
The deal, announced in December, was an all-equity transaction valued at approximately $854 million, including assumption of $619 million in debt, Kodiak said on April 1.
CSI Compressco unitholders received 0.086 shares of Kodiak common stock for each CSI Compressco common unit owned. Certain CSI Compressco unitholders meeting specified requirements were elected to receive 0.086 limited liability company units representing economic interests in Kodiak's operating subsidiary (along with an equal number of shares of non-economic voting preferred stock of Kodiak) for each CSI Compressco common unit they held.