News Releases

Baker Botts Advises Service Compression in Growth Investment from Warburg Pincus and Credit Facility with J.P. Morgan


Deal description: Service Compression, LLC ("Service Compression" or the "Company"), a leading provider of natural gas compression services for exploration and production companies, announced the closing of a preferred equity investment from Warburg Pincus, a leading global growth investor, through its Capital Solutions Founders Fund. Warburg Pincus' investment comes alongside a new credit facility led by J.P. Morgan and an additional capital raise led by existing and new shareholders. The Company plans to use net proceeds from the combined transactions to repay outstanding borrowings on its existing credit facility with funds managed by Crestline Investors, Inc. and its affiliates and for growth of the Company, including its equipment fleet, as well as working capital support.

Service Compression worked closely with Warburg Pincus to design a solution that provides the Company with a robust, optimized balance sheet enabling the Company to further grow its fleet of compression units to meet the needs of its growing customer base. In particular, Service Compression aims to help customers meet their ESG (environmental, social, and governance) initiatives by accelerating the growth of electric compression units, which have improved performance and lower greenhouse gas emissions.

Baker Botts acted as legal advisor to Service Compression in connection with the preferred equity investment, credit facility and additional equity raise.

Service Compression’s press release can be found here.

Baker Botts Lawyers/Offices Involved:

Corporate: Jon Platt (Partner, Dallas), Michael Portillo (Senior Associate, Austin), Rusty Shellhorn (Associate, Dallas), Leslie Lord (Associate, Austin)

Finance: Shad Sumrow (Partner, Dallas), Alexander Kamel (Special Counsel, Houston), Regan Vicknair (Associate, Houston), Madeline McCune (Associate, Houston)

Tax: Josh Mandell (Partner, Dallas), Jordan Hahn (Senior Associate, Dallas), Jason Loden (Partner, Dallas)

Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit

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