- Light the Way Summit Welcomes Virtual Reality Human Trafficking Education Company
- Entrinsik Promotes Robin Lamb to Vice President of Client Services
- STAY BUNGALOW ANNOUNCES OFFICIAL DEBUT
The acquisition will grow the Company's fleet to approximately 239,000 horsepower serving blue chip customers in the Permian Basin, Mid-Continent, Barnett Shale and Ark-La-Tex regions. Dusty Womble, Chairman of Service Compression, and Managing Partner at Masked Rider Capital, LLC, commented, "We are excited to announce our partnership with Crestline and believe this transaction puts us in an excellent position to realize our goal of creating meaningful value for our investors along with opportunity for our employees."
Rhett Newberry, President and CEO of Service Compression, commented, "We are pleased to announce this transformative financing with Crestline. The Company currently has 15,000 horsepower of electric-driven compression on order that, when combined with the acquisition, will solidify our position in the Permian Basin. We look forward to advancing the ESG initiatives of our customers and continuing to make strategic investments in equipment and technologies that differentiate our business."
More on Txylo.com
- Texas: Governor Abbott Issues Letter To President Biden On EPA Plan That Threatens Oil And Gas Production In Permian Basin
- Kano Laboratories, Makers of Kroil, Announces Refreshed Branding for Extended Line of Industrial Product Solutions
- Michael Baker International Announces New Leadership Roles in Southern Region
- Reliant and the Astros Foundation Launch "Slide Into Summer Reading"
- Governor Abbott Appoints Four To Finance Commission Of Texas
Michael Aingorn, Managing Director at Crestline Investors, Inc., said "Crestline is impressed by Dusty and Rhett's leadership and vision for Service Compression together with their focus on delivering high levels of customer service. We are excited to back the Company's growth in its markets and expansion into electric compression—thereby de-carbonizing the oil and gas production process."
Imperial Capital, LLC served as exclusive financial advisor to the Company in connection with the financing. Baker Botts L.L.P. served as legal counsel to the Company in connection with the financing and Bigbee & Curtis Law, LLP served as legal counsel to the Company in connection with the acquisition. Haynes and Boone, LLP served as legal counsel to Crestline in connection with the financing.
About Service Compression
Service Compression is a leading provider of natural gas compression services to exploration & production companies at the wellhead. Service Compression is focused on advancing the ESG initiatives of the upstream oil & gas sector through its differentiated service and technology offerings. The Company is headquartered in Lubbock, TX with field offices in support of its operations. For more information, please visit www.servicecompression.com.
More on Txylo.com
- City of Houston, Greater Houston Partnership Lead Mission to France to Grow Business and Cultural Ties
- Fathym announces the addition of Sergio Sotolongo to its board of directors
- Texas: Governor Abbott Announces GlobiTech Semiconductor Facility Expansion In Sherman
- Texas: Governor Abbott Renews Uvalde Disaster Declaration In June 2022
- Elevating the Voices of San Antonio Youth to Assist in City of San Antonio's COVID-19 Recovery
About Crestline Investors, Inc.
Crestline Investors, Inc., founded in 1997 and based in Fort Worth, Texas, is an institutional alternative investment management firm with approximately $15.0 billion in assets under management. Crestline specializes in credit and opportunistic investments, including financing and restructuring solutions for mature private equity funds. In addition, the firm manages a multi-PM equity market-neutral hedge fund, and provides beta and hedging solutions for institutional clients. Headquartered in Fort Worth, Texas, the company maintains affiliate offices in New York City, London, Toronto and Tokyo. For more information, please visit www.crestlineinvestors.com.
About Masked Rider Capital, LLC
Masked Rider Capital, LLC ("Masked Rider Capital" or "MRC") is a multi-family office founded in 2012 that is focused on acquiring and investing in private companies. Masked Rider Capital proudly serves lower and middle market businesses in West Texas communities and the surrounding areas through innovative capital solutions. MRC provides capital in the form of control and non-control equity, debt and hybrid securities. The firm is industry agnostic and participates in real estate development opportunities. MRC is headquartered in Lubbock, TX. For more information, please visit www.maskedrider.com.
Service Compression, LLC
President & CEO
Phone: (806) 790-8966
Email: [email protected]
SOURCE Service Compression
Filed Under: Business
Latest on Txylo.com
- Houston: Mayor Turner's Statement on U.S. Supreme Court Overturning Roe v. Wade
- Ismail Sirdah' Guide To Landing Event Sponsorships
- Texas: Governor Abbott Statement On U.S. Supreme Court Decision To Overturn Roe V. Wade
- Dalia Dupris Announces the Release of Anything But Love
- San Antonio: Expansion of Salado Creek Greenway Trail Continues
- San Antonio: D6 Councilwoman Votes to Approve Small Business Rescue Funds and Calls for Support to Build Resilience
- Children's Shoe Brand joins Soles4Souls in Ukrainian Refugee Relief Efforts
- The Data Economics Company announces partnership with Incradia to release the ReVerse franchise on Lydion-based Game Development Platform
- iTech offers 60-days free trial on expEDIum Medical Billing® product
- Stramsen Biotech Inc. Announced Eleven New Natural Plant-based Drug / Medicine Candidates During its Board Members' Meeting
- Houston: Mayor Turner's Statement In Support of Haley Carter
- Houston: Mayor Turner's Statement on the Texas Department of Transportation's Expansion of Interstate 45 and Demolition of Apartments
- Completion of funding round brings Metaphysiks one step closer to embodying the Metaverse
- Magellan Healthcare Provides Resources in Support of BIPOC Mental Health Awareness Month in July
- On Anniversary of Surfside Tragedy, New Book Coaches Residents to Identify Warning Signs
- DialCare First Telehealth Company to Team with Virta Health for Type 2 Diabetes Reversal Treatment
- Careington® Works with Virta Health to Offer Type 2 Diabetes Reversal Treatment
- STAY BUNGALOW ANNOUNCES OFFICIAL DEBUT
- First Command Reports: Financial Optimism Remains Strong in Career Military Families
- Dragons Take Flight at An Unexpected Journal