Archrock To Acquire HiVolt In All-Cash Transaction With Aggregate Value Of Up To $450M; Transaction Expected To Be Immediately Accretive To EPS And Cash Available For Dividend Per Share

• 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.

Transaction, Leadership and Closing Details

Under the terms of the agreement, Archrock intends to fund the upfront $415 million cash portion of the total transaction consideration with available capacity under its ABL credit facility. The transaction is expected to be debt-free, resulting in pro forma leverage that is consistent with Archrock’s stated target range of between 3.0 times and 3.5 times. The $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, providing strong visibility into expected earnings.

The transaction has been unanimously approved by the Board of Directors of Archrock and is expected to close in early 2027, subject to regulatory approval and other customary closing conditions.

Following close of the transaction, HiVolt will operate as a separate business segment within Archrock and continue to be led by Josh Evans. Archrock is committed to maintaining HiVolt’s organization, personnel and operations, as well as its presence in Midland, Texas, while expanding HiVolt’s footprint nationwide.