Service Compression announced it has completed the acquisition of substantially all assets of Axip Energy Services, advancing its strategy to build a scaled, technology-enabled compression platform.
The transaction significantly expands Service Compression’s horsepower capacity and strengthens its presence in key large-horsepower categories, while deepening its footprint in core operating regions, including the Permian Basin.
The acquisition adds a complementary fleet, established customer relationships, and enhanced operational capabilities, positioning the combined company to deliver broader and more differentiated compression solutions across the U.S. energy market.
More than 100 Axip employees have joined Service Compression as part of the transaction, contributing industry expertise and reinforcing the company’s operational capabilities and service delivery.
The deal was supported by additional investment from Warburg Pincus and an expansion of the company’s existing credit facility led by JPMorgan. Service Compression also continues its partnership with Masked Rider Capital.
Advisors on the transaction included Moelis & Company as financial advisor and Willkie Farr & Gallagher as legal counsel.
The acquisition marks a significant step in Service Compression’s growth strategy, enhancing its scale, operational reach, and ability to serve customers across key producing basins in the United States.
KEY QUOTES:
“This acquisition represents a transformational step forward for Service Compression. Axip brings a high-quality asset base, strong customer relationships, and an experienced team that aligns well with our operating model and long-term strategy. We believe the combined platform is exceptionally well positioned to deliver reliable, differentiated compression solutions to our customers while creating meaningful value for our stakeholders.”
Rhett Newberry, Chief Executive Officer, Service Compression
“We are grateful for the continued support of Warburg Pincus, JPMorgan, and Masked Rider Capital. Their partnership reflects confidence in our disciplined growth strategy and in the long-term value we believe this transaction will create. With greater scale, broader capabilities, and an expanded customer base, we are excited to begin this next chapter for Service Compression.”
Rhett Newberry, Chief Executive Officer, Service Compression
