- Nova Compression announced a closing of a $105MM structured equity commitment from OIC LP. - This investment is supported by a new asset-based loan facility led by J.P. Morgan and includes participation from several banks. - CEO Jonathan Mitchell emphasized that this transaction marks a pivotal moment for the company. - The funding will allow Nova to capitalize on opportunities in the compression market and to scale its mixed fleet strategy. - Mitchell stated that stakeholders and customers will benefit from the company's growth, improving the work environment for employees. - Nova intends to grow its diversified natural gas and electric engine fleet and expand both in existing and new regions. - The company plans to pursue accretive acquisitions that align with its operating model. - Chris Leary from OIC expressed excitement about partnering with Nova and highlighted the company's strong position for growth. - Moelis & Company LLC served as the exclusive placement agent and various law firms provided legal advisory services for the transaction. - Nova Compression provides natural gas compression services across several states in the US and operates a mixed fleet strategy. - OIC invests in various sectors including energy efficiency, sustainable power, and infrastructure, with approximately $5 billion in assets under management.

Nova Compression Bolsters Growth Strategy with a $325MM Capital Raise, Including a Structured Equity Commitment from OIC and ABL from J.P. Morgan

News provided by Nova Compression

Sep 23, 2025, 13:00 ET

OKLAHOMA CITY, Sept. 23, 2025 /PRNewswire/ -- Nova Compression, LLC ("Nova" or the "Company"), a leading provider of contract compression infrastructure, announced the closing of a $105MM Structured Equity commitment from OIC LP ("OIC"). OIC's investment is complemented by a new asset-based loan (ABL) facility led by J.P. Morgan, with participation from Bank OZK, First Citizens Bank, and Sunflower Bank, and the continued support of Nova's existing shareholders.

"This transaction marks an inflection point for Nova," said Jonathan Mitchell, Chief Executive Officer of Nova Compression. "OIC's investment gives us the financial resources we need to fully capitalize on the opportunities we see in the compression market, while the J.P. Morgan-led credit facility provides us flexibility to scale our mixed fleet strategy. With their support, and the support of our longtime partners, we will continue to deliver world-class service to our customers across multiple horsepower ranges, with both natural gas and electric units."

Nova raises $105M equity from OIC, plus new JPM-led ABL, to fuel fleet growth and expansion.

Mitchell continued: "All of our stakeholders and customers will benefit from the growth of our Company, reinforcing our commitment to provide the highest quality work environment for our employees, while deepening our customer relationships by growing with them."

Nova worked closely with OIC to design a structured equity solution that will enable the Company to grow on multiple fronts while serving its existing customer base. With this new capital in place, Nova plans to grow its diversified natural gas and electric engine fleet, expand in both existing and new geographies, and opportunistically pursue accretive acquisitions where Nova's operating model can drive immediate value.

"OIC is excited to partner with Nova as they enter this new phase of growth," said Chris Leary, Investment Partner and Head of Infra Equity at OIC. "Nova is an already successful platform with a diverse range of assets that provide critical compression services to leading energy companies. The Company is in a strong position to unlock growth in existing and new geographies. We are excited to work with the entire Nova team and its existing investors to execute on the Company's long-term strategy".

Moelis & Company LLC served as exclusive placement agent and Foley & Lardner, LLP served as legal advisor to Nova Compression. Vinson & Elkins LLP served as legal advisor to OIC.

About Nova Compression
Nova Compression is a premier provider of natural gas compression services to exploration and production companies in Texas, Oklahoma, New Mexico, Arkansas, Kansas, and Louisiana. The company's business model centers on its mixed fleet strategy; providing an entire range of natural gas and electric compression, from 100 to 3,000 horsepower. For more information, visit www.nova-compression.com.

About OIC
With approximately $5 billion in assets under management, OIC invests in North America and select international markets. OIC's unique partnership approach – for entrepreneurs, by entrepreneurs – cultivates creative credit, equity, and growth capital solutions to help middle market businesses scale and deploy sustainable infrastructure. OIC's target investment sectors include energy efficiency, sustainable power, waste and recycling, digital infrastructure, renewable fuels, transportation, storage and logistics, and other infrastructure. OIC was founded in 2015 by a team of energy and sustainability veterans, successful infrastructure investors, and former asset owners and industry operators. Across OIC's platform is a team of approximately 48 professionals based in New York, Houston, and London. To learn more, visit www.oic.com.