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Imperial Capital Acted As Exclusive Financial Advisor To Service Compression To Secure Transformative Growth Capital Investment
HOUSTON, May 18, 2022 /PRNewswire/ — Imperial Capital, LLC (“Imperial Capital”) announced that it served as exclusive financial advisor to Service Compression, LLC (“Service Compression” or the “Company”), a leading provider of natural gas compression services to exploration & production companies at the wellhead, in connection with the commitment of $215 million of first lien senior secured credit facilities with Crestline Investors, Inc. (“Crestline”). The Company plans to direct the net proceeds from the financing to the acquisition of incremental wellhead compression in the Permian Basin and the kickoff of a newbuild electric-driven wellhead compression program.
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 will expand our total fleet to over 250,000 horsepower. 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.”
“This transaction demonstrates Imperial Capital’s ability to leverage our extensive relationships with prospective sources of capital across multiple industry verticals, and highlights the expertise and knowledge of our Energy Group,” said Chris Shepard, Managing Director and Co-Head of Investment Banking at Imperial Capital. Lenny Bianco, a Managing Director in the Energy Group, added, “We are pleased to have crafted a bespoke debt structure and identified an ideal partner to support the Company’s growth plans while limiting dilution to existing shareholders.”
About Service Compression, LLC
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.
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.
About Imperial Capital, LLC
Imperial Capital, LLC is a full-service investment bank offering a uniquely integrated platform of comprehensive services to institutional investors and middle market companies. We offer sophisticated sales and trading services to institutional investors and a wide range of investment banking advisory, capital markets and restructuring services to middle market corporate clients. Paired with our proprietary research and sales & trading desk analysis, we provide investment analysis across an issuer’s capital structure, including bank loans, debt securities, the hybrid/bank capital marketplace (through our ELP Framework), post-reorganization equities, special situations claims and listed and unlisted equities. Our comprehensive and integrated service platform, expertise across the global capital structure, and deep industry sector knowledge enable us to provide clients with research driven ideas, superior advisory services, and trade execution. We are quick to identify opportunities under any market conditions and we have a proven track record of offering creative, proprietary solutions to our clients. Imperial Capital, LLC has three principal businesses: Investment Banking, Institutional Sales & Trading and Institutional Research. More information about Imperial Capital, LLC can be found at www.imperialcapital.com.
For more information regarding Imperial Capital, please contact:
Corporate Finance Manager
Phone: (310) 246-3605
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