SCF Partners Invests in Phoenix Service Partners to Support Rapid Growth

Phoenix is a natural gas contract compression and solutions provider primarily focused on the design, construction, installation, and operation of compressors with an initial emphasis on serving the energy sector within the United States. In connection with the investment, Vinson & Elkins also advised a subsidiary of Phoenix in a $150 million senior secured ABL credit facility, with a $100 million incremental capacity, in connection with the refinancing of outstanding indebtedness and the financing of ongoing growth and working capital. The firm previously represented affiliates of Apollo Global Management, Inc. in connection with an investment that involved the same management team (as well as that team’s successful exit to Kodiak Gas Services).

The Vinson & Elkins team was led by partners Matt Strock and Mike Marek and associate Chandler Spinks, with assistance from associates Mimi Nguyen, Rylie Goldwait, and Chandni Jaggi. The financing was led by partner Zach Rider, senior associate David Albano, and associates Meghan Dobbins and Annabel Wei. Other key team members included partners Lina Dimachkieh and Wendy Salinas, counsel Curt Wimberly and associate Katie Dillard; partner Becky Baker and associate Jordan Peck; partner Matthew Dobbins and senior associate Kelly Rondinelli; counsel Michael Zarcaro; and partner Shane Tucker, counsel Heather Reynolds Johnson, and associate Matt Green.