HOUSTON, June 30, 2014 /PRNewswire/ — Today, Axip Energy Services, LP (Axip) announced that it has sold its international services business to Enerflex Ltd. (Enerflex) for US$430 million in cash. The transaction includes all of Axip’s international contract operations and approximately 170 employees who work in that business. Axip will use the proceeds of the divestiture to continue reinvesting in its domestic contract services businesses and pay down debt. This sale, in combination with the successful divestiture of the Valerus Field Solutions business earlier this year, results in a business completely focused and aligned on continuing its rapid growth in the US shale plays with its contract services and aftermarket offerings.

About Axip

Axip provides contract compression and production equipment, pre-engineered wellpad solutions, pipelines, and full gathering, processing and treating facilities on a fee basis for upstream and midstream oil and gas operators. Axip’s service offering ranges from single compressors and small refrigerated JT units to 200 MMSCFD gas gathering stations and comprehensive treating facilities. Axip provides field equipment installation, maintenance and repair, and also designs, engineers, owns and operates complete facilities. Axip is committed to delivering the highest standards in safety, service and reliability to its customers. More information is available at www.axip.com.

Barclays acted as financial adviser to Axip in connection with the transaction. Axip is being represented by Vinson & Elkins LLP in connection with the sale.

For More Information

Chris Wailes
Pierpont Communications
713.627.2223
cwailes@piercom.com

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SOURCE Axip Energy Services, LP