Kodiak Gas Services, part of EQT Infrastructure, has signed a definitive agreement to acquire Pegasus Optimization Managers. The move will pair two growing contract compression companies, which provide compression equipment for the extraction of oil and transportation of natural gas in the United States.
With Pegasus under its company umbrella, Kodiak will have more than 2.5 million hp in compression assets deployed across several basins, the company said.
“The combination of Pegasus and Kodiak is truly transformational, as it will create a differentiated, large-scale leading contract compression company in the U.S.,” said Alex Darden, partner at EQT Partners, investment advisor to EQT Infrastructure.
The transaction is expected to close in the fourth quarter of this year. Financial terms of the transaction were not disclosed.