Kodiak Gas Services, Inc. (NYSE: KGS), a leading player in the U.S. contract compression services industry, recently announced a substantial secondary offering of its common stock, amounting to a hefty $344 million. The offering involved the sale of 10 million shares by Frontier TopCo Partnership, L.P., an affiliate of EQT’s Infrastructure III and IV funds.

The transaction, which was concluded on September 9, 2025, marks a strategic move for Kodiak in its efforts to widen its investor base. For EQT, this marks a significant rebalancing of its investment portfolio. The successful closing of the deal after meeting customary conditions underscores the robust interest and confidence in Kodiak’s business model and future growth prospects.

This significant financial move was facilitated by Kirkland & Ellis, a global leader in legal counsel, especially noted for their expertise in high-stakes energy and infrastructure financings. The firm’s role in this transaction highlights its established reputation and strategic legal acumen in managing complex financial deals.

The legal team from Kirkland & Ellis was led by Matt Pacey and Jennifer Wu, who were supported by a skilled group including Ieuan List, Brick Christensen, Cassie Cox, Kyle Sledge, and Lauren Bingham. Their combined efforts ensured a smooth transaction aligned with the best interests of Kodiak Gas Services.

Founded in 2010 and headquartered in Houston, Kodiak Gas Services has grown to become one of the most significant providers in its sector, boasting over 4 million horsepower in operations across major basins. The company is renowned for its fixed-fee, reliable compression, and treating solutions, which are supported by a strong commitment to safety and sustainability.

Kirkland & Ellis, known for its profound expertise in M&A, corporate law, litigation, intellectual property, and private equity, continues to support and guide major companies through complex transactions. With offices in key financial centers around the world, the firm is a beacon of legal excellence and innovation, often leading the charge in high-profile, high-stakes transactions.

As Kodiak Gas Services strides forward, broadening its investor landscape, and EQT reshapes its portfolio, the role of seasoned legal advisers like Kirkland & Ellis proves invaluable in navigating the sophisticated waters of global finance and strategic corporate development.