CSI Compressco LP (NASDAQ: CCLP), a provider of compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage, has announced that Spartan Energy Partners LP is acquiring from TETRA Technologies, Inc. (TETRA), the Partnership's General Partner, incentive distribution rights and a majority of the common units in CSI Compressco. CSI Compressco will continue to be listed on NASDAQ and does not expect any changes to its capital structure as a result of this transaction. CSI Compressco will not issue any common units nor incur any incremental indebtedness as a result of the transaction.
Latham & Watkins LLP represents Spartan Energy Partners in the transaction with a Houston-based deal team led by partners John Greer and Ryan Maierson, with associates Bryan Ryan and Jessica Sherman. Advice was also provided on tax matters by Houston partner Tim Fenn, with associate Chelsea Muñoz-Patchen; on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum; and on environmental matters by Los Angeles counsel Joshua Marnitz.