NGS acquires Flatrock Compression for $120M, expands credit facility to $500M

Filed June 15, 2026 · Period ending June 12, 2026 · ~1 min read

Key Changes

• high

  Acquired Flatrock Compression for $120M ($110M cash, $10M stock) at ~6.2x LQA EBITDA, adding ~86,000 HP of rental compression at 95% utilization in Permian and Eagle Ford basins

  Item 1.01 verify on EDGAR →
• high

  Expanded credit facility from $400M to $500M with $100M accordion feature (potential $600M total); pro forma leverage ~3x with $130M+ undrawn capacity

  Item 1.01 verify on EDGAR →
• medium

  Acquisition reduces customer concentration (Oxy + Devon from 64% to 54%), adds two large public E&P customers, and increases electric fleet exposure from 7% to blended higher percentage

  Item 1.01 verify on EDGAR →