USA Compression Acquires Compression Assets from S&R Compression for $187M
USA Compression Partners (NYSE: USAC) today announced that it had entered into a definitive agreement to acquire approximately $187 million of compression assets owned by S&R Compression, LLC (“S&R”), a Tulsa-based company majority owned and controlled by Argonaut Private Equity, an affiliate of George B. Kaiser. In exchange for the contribution of assets, the Kaiser affiliate will receive USAC common units representing 20% of the pro forma limited partner interest in USAC. USAC expects this transaction to be immediately accretive to distributable cash flow.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.