Core Insights - EQT has fully exited its investment in Kodiak Gas Services, marking the end of a nearly seven-year partnership that supported Kodiak's growth into a leading contract compression company in North America [1][8] Company Overview - Kodiak Gas Services, founded in 2011 and headquartered in Houston, provides essential compression equipment and services for the transportation of natural gas across the U.S. energy value chain [2] - The company operates a high-horsepower fleet that serves major producers and midstream operators in North America's low-cost basins, playing a crucial role in meeting U.S. energy needs and enhancing domestic energy security [3] Investment Impact - Since EQT's initial investment in 2019, Kodiak has transformed significantly, with revenue and EBITDA increasing by over 8 times, and headcount growing by more than 400% to over 1,300 employees [4][5] - Kodiak has expanded its operations into new markets across North America and successfully listed on the New York Stock Exchange in 2023 [5] Strategic Developments - During EQT's investment period, Kodiak completed multiple strategic acquisitions, invested in digital tools to optimize performance and reduce emissions, and launched its first sustainability report, now operating one of the lowest emission fleets in the U.S. compression market [4][5] - The exit from Kodiak demonstrates EQT's commitment to building sustainable businesses through operational excellence and hands-on value creation [8]