Archrock to Acquire HiVolt Energy Holdings, LLC
Key Highlights
- ➤Archrock to acquire HiVolt for up to $450 million in an all-cash transaction
- ➤$415 million upfront payment plus $35 million milestone-based earnout
- ➤HiVolt has over 80 megawatts of contracted prime power capacity today
- ➤HiVolt’s expected 2028 adjusted EBITDA is $70–75 million
- ➤Transaction expected immediately accretive to earnings per share and cash available for dividend per share
Expert Statements
Brad Childers, President and Chief Executive Officer of Archrock
“Combining HiVolt’s proven prime power microgrid platform with Archrock's natural gas compression offerings will transform our company into a broader provider of energy infrastructure”
Brad Childers, President and Chief Executive Officer of Archrock
“HiVolt has built a proven, differentiated platform in the energy microgrid market that complements our core compression business and will enable us to provide additional essential services to customers across the energy value chain, particularly in power-constrained geographies. The transaction also offers upside from future industrial markets. We are confident that this transaction will advance our strategic priorities and drive long-term growth and value creation for Archrock shareholders.”
Brad Childers, President and Chief Executive Officer of Archrock
“A key part of what makes HiVolt such an exciting addition to Archrock is its talent. HiVolt’s highly experienced people bring deep expertise and a proven track record in developing, operating and scaling distributed power infrastructure using high-quality Caterpillar equipment. We look forward to welcoming HiVolt CEO Josh Evans and the HiVolt team to Archrock and working together to deliver on the substantial opportunities ahead.”
* Combines HiVolt’s proven, differentiated prime power microgrid infrastructure platform – comprising vertically integrated development, ownership and operations across power generation, battery energy storage systems, fuel pipelines and private-line infrastructure that delivers reliable, utility-grade power – with Archrock’s leading compression capabilities * Expands offerings for new and existing oil and gas customers through complementary prime power microgrid solutions supported by long-term power purchase agreements, with upside from future industrial markets * Transaction expected to be immediately accretive to earnings per share and cash available for dividend per share * $415 million upfront purchase price plus the portion of the earnout paid through 2028 represents a transaction multiple of approximately 6.1x the midpoint of HiVolt’s expected 2028 adjusted EBITDA range of $70–75 million, approximately 70% of which is supported by operating and contracted and awarded opportunities that provide strong visibility into expected earnings * Archrock to host a conference call at 5:30 PM ET HOUSTON and MIDLAND, Texas, Nov. 10, 2026 (GLOBE NEWSWIRE) -- Archrock, Inc. (NYSE: AROC) (“Archrock”) and HiVolt Energy Holdings, LLC (“HiVolt”) today announced that they have entered into a definitive merger agreement under which Archrock will acquire HiVolt in an all-cash transaction with an aggregate value of up to $450 million. The purchase price includes a payment of $415 million in cash at close plus $35 million of earnout incentives based on the achievement of certain commercial milestones.
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