Apollo Global Management’s Acquisition of Total Operations and Production Services

Vinson & Elkins LLP advised funds managed by affiliates of Apollo Global Management, Inc. on the deal.

Funds managed by affiliates of Apollo Global Management, Inc.(NYSE:APO), a leading global alternative investment manager, announced that they have acquired a majority interest in Total Operations and Production Services, LLC from Black Bay Energy Capital.

TOPS is a leading provider of contract gas compression services for the Permian Basin, with a focus on electric driven compression systems that offer customers improved performance and reduced emissions.

TOPS will continue to be headquartered in Midland, Texas and led by L.D. Green, Chief Executive Officer, and Brian Green, Chief Operating Officer. The investment from the Apollo Funds will help TOPS support continued growth in customer demand and allow TOPS to expand its capabilities to better serve the growing market for electric driven compression for gas lift and other applications. TOPS’ proprietary electric compressor design and controls continue to gain traction in the market as operators seek to reduce costs, increase runtime and lower carbon footprints.

Vinson & Elkins LLP acted as legal counsel to the Apollo Funds. Fishman Haygood acted as legal counsel to TOPS and Black Bay. J.P. Morgan supported the transaction through an upsized credit facility.

The V&E M&A team was led by Dan Komarek (Picture) and Shay Kuperman, with assistance from Sam Garforth-Bles, Heather Brocksmith, Kara Chung, and Kathryn Hastings. Other key team members included Jason McIntosh, Christina McLeod, Sean Becker, Matt Dobbins, Devika Kornbacher, Sean Hill, Justin Purtle and Sarah Mitchell. The V&E finance team was led by Tzvi Werzberger and Carter Olson, with assistance from Cole Renicker.

Involved fees earner: Sean Becker – Vinson & Elkins LLP; Heather Brocksmith – Vinson & Elkins LLP; Kara Chung – Vinson & Elkins LLP; Matthew Dobbins – Vinson & Elkins LLP; Sam Garforth-Bles – Vinson & Elkins LLP; Kathryn Hastings – Vinson & Elkins LLP; Sean Hill – Vinson & Elkins LLP; Dan Komarek – Vinson & Elkins LLP; Devika Kornbacher – Vinson & Elkins LLP; Shay Kuperman – Vinson & Elkins LLP; Jason McIntosh – Vinson & Elkins LLP; Christina McLeod – Vinson & Elkins LLP; Sarah Mitchell – Vinson & Elkins LLP; Carter Olson – Vinson & Elkins LLP; Justin Purtle – Vinson & Elkins LLP; Cole Renicker – Vinson & Elkins LLP; Tzvi Werzberger – Vinson & Elkins LLP;

Law Firms: Vinson & Elkins LLP;

Clients: Apollo Global Management;

Author: Martina Bellini