Archrock, Inc., through its wholly-owned subsidiary Archrock Services, L.P., has entered into a definitive agreement to acquire HiVolt Energy Holdings, LLC. Upon completion, HiVolt will merge with an Archrock subsidiary and continue as a wholly-owned subsidiary of Archrock Services.
Key Details
- Transaction Value: The acquisition has an aggregate purchase price of $415 million in cash, subject to adjustments for net working capital, indebtedness, cash, and other specified items.
- Timeline & Conditions: The merger is expected to close in the first quarter of 2027, contingent upon customary closing conditions, including the expiration of the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act.
- Incentive Plan: The agreement includes a performance-based cash incentive plan for select HiVolt employees, with potential aggregate payments of up to $35.0 million based on the business's adjusted gross margin performance for fiscal years 2027 through 2029.