Majority Interest in FloWorks Sold to Wynnchurch
Current owner Clearlake Capital Group will retain a minority stake in the business going forward.
#maintenance-repair
Share
Clearlake Capital Group, L.P. announced it has completed the sale of a majority interest in FloWorks International, LLC to Wynnchurch Capital, L.P. Clearlake will retain a minority stake in the business going forward. Financial terms of the transaction were not disclosed.
FloWorks is a specialty flow control distribution platform providing solutions focused on non-discretionary maintenance, repair, and replacement activities. Under Clearlake’s ownership, FloWorks has completed seven strategic acquisitions, further expanding its flow control product portfolio. The new investment and recapitalization by Wynnchurch will enable the Company to continue executing on its organic and acquisition growth plans.
“The strategic transformation executed at FloWorks in partnership with CEO Scott Jackson and his management team represents an exciting success story,” said José E. Feliciano, co-founder and managing partner, and James Pade, partner and managing director at Clearlake.
“We identified FloWorks as an asset that could benefit from our proprietary value creation framework, which involved acquiring seven regional specialty distributors, divesting non-core business lines and investing in the company’s customer and people. We are excited to remain an investor in FloWorks and to continue to partner with Scott and his team, as well as Wynnchurch, to further expand the platform.”
Mr. Jackson, president and CEO of FloWorks, said: “We are thrilled to have had the opportunity to partner with Clearlake and are appreciative of the strong value-added sponsorship and resources their team dedicated to our business as we pursued growth, which included investing in our team and deploying significant capital to help us provide best-in-class service to our customers. We look forward to continuing to grow FloWorks’ capabilities under Wynnchurch with continued support from Clearlake.”
FloWorks is a leading specialty distributor of critical flow control products and provider of tailored technical solutions for MRO-focused applications. The company serves customers across high purity & sanitary, chemicals, downstream refining & renewables, and other industrial end markets. FloWorks operates over 50 strategically located facilities that service the major industrial markets of North America and Asia. FloWorks’ strong local presence serving customers in these geographic regions enables the Company to reduce order response time, provide a high level of service, and establish long-term customer relationships. More information is available at www.gofloworks.com.
RELATED CONTENT
-
Valve Selection for Bypass of Control Valves: A Case Study
A bypass line including a bypass valve is typically installed to provide continuous operation in case of regular maintenance of a control valve.
-
Valves in Oxygen Service
In his presentation at VMA’s 2017 Technical Seminar, Kurt Larson, a process control engineer for Air Products, spoke about the inherent danger of the oxygen production business and how it is particularly important for end users and valve manufacturers to work closely together.
-
The Evolution of the All-Encompassing Ball Valve
The compact design, simplicity of use, ease of repair and wide performance capability have helped to make the ball valve a dominant design in modern industrial applications.
 Unloading large gate valve.jpg;maxWidth=214)
