J. Gregory Holloway, vice president and general counsel of USA Compression Partners (USAC) turned to Vinson & Elkins for the Austin company's pending purchase of about $187 million in compression assets from S&R Compression of Tulsa.
S&R, based in Tulsa, Okla., is using lawyers from Frederic Dorwart in Tulsa.
On Aug. 13, USAC announced a definitive agreement to acquire the assets owned by S&R, which is a company majority controlled by Argonaut Private Equity, an affiliate of George B. Kaiser. As described in the press release, in exchange for the assets, the Kaiser affiliate will receive USAC common units representing a 20 percent interest in USAC.
The 983 compression units in the deal are largely used for crude oil production in Texas and Oklahoma. The transaction also calls for a commercial relationship between USAC and the S&R Compression fabrication business.
The deal is expected to close during the third quarter and will be effective retroactive to June 30.
Milam Newby, a V&E partner in Austin, leads the team of outside counsel for USAC, along with associates Becky Diffen of Austin and Lauren Creel and Sheila Forjuoh, both of Houston.
Others are capital markets partner Ramey Layne and associate Douglas Lionberger, both of Houston; tax partner Price Manford of New York, and counsel James Penny and associate Robert Jacobson, both of Houston; intellectual property associate Devika Kornbacher of Houston; employment partners Sean Becker of Houston and David D'Alessandro of Dallas, and associates Grace Ho of Houston and Heather Johnson of Dallas; antitrust partner Neil Imus and associate Matt Greeson, both of Washington, DC; environmental partner Sue Snyder of Austin, and real estate counsel Hal Taylor of Austin.
On the in-house side, USAC assistant general counsel Lauren Dean is assisting Holloway.
The Frederic Dorwart lawyers for S&R are partners Steve Walton and Kenneth Watt and associates Jacob Calvani and Michael Hedin.