Apollo Global Management to acquire a majority stake in Total Operations and Production Services from Black Bay Energy Capital.

Apollo Global Management, a global alternative investment manager, agreed to acquire a majority stake in Total Operations and Production Services, a provider of contract gas compression services for the Permian Basin, from private equity firm Black Bay Energy Capital. Financial terms were not disclosed. "We are pleased to announce this strategic investment from the Apollo Funds. We have experienced rapid growth over the last few years as our customers in the Permian Basin have fully embraced our high-quality equipment and services offering. We view this transaction as a key step in our continued growth and look forward to benefitting from Apollo’s deep sector knowledge, industry relationships and financial backing to support the next evolution of the Company. We would like to acknowledge and thank the Black Bay team for their involvement and support in helping us reach this point," L.D. Green, TOPS CEO.