Mergers & Acquisitions ·
Archrock agrees to acquire HiVolt Energy Holdings for up to $450M in cash
AROCArchrock, Inc.
Archrock Services, L.P., a wholly owned subsidiary of Archrock, Inc., entered into an Agreement and Plan of Merger to acquire HiVolt Energy Holdings, LLC. The all-cash transaction carries an aggregate value of up to $450 million, comprising a $415 million upfront purchase price plus up to $35 million in earnout incentives tied to commercial milestones for fiscal years 2027 through 2029. HiVolt unitholders will receive cash consideration upon closing, which is expected in the first quarter of 2027 subject to customary conditions including regulatory approvals. Archrock intends to fund the upfront cash with available capacity under its ABL credit facility, targeting pro forma leverage between 3.0x and 3.5x. The acquisition combines HiVolt’s prime power microgrid infrastructure with Archrock’s natural gas compression capabilities. Archrock is an energy infrastructure company focused on midstream natural gas compression services.