GlobeNewswire·Nov 10, 2026, 4:15 PM ET

Archrock to Acquire HiVolt Energy Holdings, LLC

AROC

Archrock will acquire HiVolt in an all-cash transaction valued at up to $450 million, comprising a $415 million upfront payment plus $35 million in earnout incentives payable through 2028.
The deal combines Archrock's natural gas compression capabilities with HiVolt's prime power microgrid infrastructure, including battery storage, fuel pipelines, & private-line networks.
Transaction valuation represents approximately 6.1x the midpoint of HiVolt's expected 2028 adjusted EBITDA range of $70–75 million, with roughly 70% supported by operating & contracted opportunities.
HiVolt currently operates over 80 megawatts of contracted prime power capacity supported by long-term, take-or-pay power purchase agreements lasting five to eight years.
Archrock intends to fund the $415 million upfront cost using existing ABL credit facility capacity, resulting in pro forma leverage consistent with its target range of 3.0x to 3.5x.
The transaction is expected to be immediately accretive to earnings per share & cash available for dividend per share.
Archrock plans to close the acquisition in early 2027, subject to regulatory approval & customary closing conditions.
Following the close, HiVolt will operate as a separate business segment within Archrock, led by CEO Josh Evans, while maintaining its Midland, Texas presence.
Archrock has secured access to over 500 megawatts of near-term generation equipment from Caterpillar to support HiVolt's forecasted growth through 2028.
A conference call to discuss the transaction is scheduled for November 10, 2026, at 5:30 PM ET.

Company: Archrock
Keywords: NYSE:AROC, Archrock