Flowco Acquires Lifting Solutions for $113 Million

Houston, USA - Flowco Holdings Inc. (NYSE: FLOC) announced the closing of its acquisition of Lifting Solutions Energy Services Inc. for approximately US$113 million in cash, based on a CAD/USD exchange rate of 0.71, subject to purchase agreement adjustments.

Lifting Solutions, founded in 2014 and headquartered in Edmonton, Alberta, Canada, is a vertically integrated manufacturer of artificial lift technologies including continuous rod and progressing cavity pumps. The company serves wells across Canada, the United States, the Middle East, and international markets.

Key Highlights

• Expands portfolio and addressable market by adding continuous rod and PCP technologies.
• Provides a scaled Canadian operations and international platform to accelerate growth.
• Creates cross-sell opportunities across respective geographic footprints.
• Expected to be accretive to earnings and free cash flow per share.