Apollo Funds Acquire Majority Stake in Total Operations and Production Services (TOPS)

Black Bay Energy Capital Invests in Total Operations and Production Services (TOPS)

August 14, 2019

Energy

Black Bay Energy Capital, an energy-focused private equity firm, has made an investment in Total Operations and Production Services (TOPS), a Midland, Texas-based provider of electric and gas-driven compression systems focused on gas lift applications in the Permian Basin. The partnership will provide capital and industry expertise to support TOPS' growth plans and expansion of its electric compression and automation capabilities.

Archrock Acquires Total Operations and Production Services (TOPS)

July 22, 2024

Oil & Gas

Archrock, Inc. will acquire Total Operations and Production Services, LLC (TOPS) from investment funds managed by affiliates of Apollo Global Management in a cash-and-stock transaction valued at $983 million. The deal adds approximately 580,000 horsepower (predominantly electric motor drive compression), deepens Archrock's Permian Basin footprint and electric compression capabilities, and is expected to be immediately accretive to earnings and cash available for dividend per share.

Capstreet Acquires TOPS Field Services

January 29, 2026

Industrial Services

Houston-based private equity firm Capstreet has acquired TOPS Field Services, LLC, a Huffman, Texas–based provider of inspection, overhaul and maintenance services for gas and steam turbines, LNG equipment, and generators. Management, including founder and CEO Toby Wooster, will remain with the company as Capstreet partners with TOPS to expand service offerings, enhance capabilities, and pursue geographic expansion; terms were not disclosed.

Apollo Funds Acquire Majority Stake in Bold Production Services

February 12, 2025

Energy

Funds managed by Apollo affiliates have acquired a majority interest in Bold Production Services, a Houston-based provider of contracted natural gas treatment solutions. The investment will support Bold's growth and expansion of its fleet and services to meet rising U.S. natural gas demand across Permian and Eagle Ford basins.

LandGate Corp. Acquires Topos

December 18, 2025

Data & Analytics

LandGate Corp. has acquired Topos in an all-cash transaction to integrate Topos’ AI-powered insights for faster due diligence on battery storage, renewable energy and power projects into LandGate’s site-selection platform. The deal expands LandGate’s data and AI capabilities—reducing time-to-market for energy and infrastructure projects and strengthening its position serving developers, utilities, ISOs and financial sponsors.

Kodiak Gas Services (EQT) Acquires Pegasus Optimization Managers from Apollo

September 25, 2019

Oil & Gas

EQT Infrastructure portfolio company Kodiak Gas Services has signed a definitive agreement to acquire Pegasus Optimization Managers from affiliates of Apollo Natural Resource Partners II. The deal combines two fast-growing contract compression businesses — creating a leading U.S. contract compression platform with more than 2,500,000 revenue-generating horsepower; the transaction is expected to close in Q4 2019 and financial terms were not disclosed.