Spartan Energy Partners’ Acquisition of CSI Compressco LP’s General Partner


Latham & Watkins LLP represented Spartan Energy Partners in the transaction. Bracewell LLP advised Evercore as financial advisor on the deal.

CSI Compressco LP (NASDAQ: CCLP), a provider of compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage, has announced that Spartan Energy Partners LP is acquiring from TETRA Technologies, Inc. (TETRA), the Partnership’s General Partner, incentive distribution rights and a majority of the common units in CSI Compressco. CSI Compressco will continue to be listed on NASDAQ and does not expect any changes to its capital structure as a result of this transaction. CSI Compressco will not issue any common units nor incur any incremental indebtedness as a result of the transaction.

Spartan, a Texas based private company founded in 2010, is a global provider of gas treating, compression and processing services. The management team of Spartan is comprised of energy industry veterans from Hanover Compressor, Exterran and Ariel Corporation. Spartan’s majority owner is Silverhawk Capital Partners.

Latham & Watkins LLP represented Spartan Energy Partners in the transaction with a Houston-based deal team led by partners John Greer (Picture) and Ryan Maierson, with associates Bryan Ryan and Jessica Sherman. Advice was also provided on tax matters by Houston partner Tim Fenn, with associate Chelsea Muñoz-Patchen; on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum; and on environmental matters by Los Angeles counsel Joshua Marnitz.

The Bracewell team was led by Will Anderson.

Involved fees earner: William Anderson – Bracewell; Timothy Fenn – Latham & Watkins; John Greer – Latham & Watkins; Adam Kestenbaum – Latham & Watkins; Ryan Maierson – Latham & Watkins; Joshua Marnitz – Latham & Watkins; Chelsea Marie Muñoz-Patchen – Latham & Watkins; Bryan Ryan – Latham & Watkins; Jessica Sherman – Latham & Watkins;

Law Firms: Bracewell; Latham & Watkins;

Clients: Evercore Inc.; Spartan Energy Partners;

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Author: Ambrogio Visconti