Mir
Long/short equity, special situations, growth at reasonable price

The Long Case For Exterran Holdings

Elevator Pitch:

    EXH has plans for dropdowns at MLP level to EXLP. They intend to use partnership as primary vehicle for the long-term growth of U.S. contract operations business. With dropdown of all domestic fleet-horsepower (HP) to partnership at 650/hp (7-8x EBITDA), it is expected that distributions to EXH are going to increase due to GP IDR interests held...
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