A Locke Lord team represented USA Compression Holdings, LLC in USA Compression Partners LP's (USAC) purchase of Energy Transfer Partners LP's (ETP) compression business valued at approximately $1.8 billion. As part of the terms, Energy Transfer Equity, L.P. (ETE) acquired the ownership interests in the general partner of USAC and approximately 12.5 million USAC common units from USA Compression Holdings. According to the press release, the transaction is expected to strengthen ETP’s balance sheet by allowing ETP to use the cash proceeds from the transactions to reduce leverage. The Locke Lord team included Joe Perillo and Bill Swanstrom (both of Houston).
Posted January 16, 2018