Flowco closes acquisition of Lifting Solutions for about $113 million cash
FLOC•Flowco completed its acquisition of Lifting Solutions Energy Services for about $113 million in cash, subject to post-closing adjustments. Sellers may earn up to C$10 million based on Lifting Solutions’ 2027 financial performance.
1. Acquisition completed
Flowco completed its acquisition of Lifting Solutions Energy Services, a manufacturer of artificial lift technologies with operations in Canada and international markets. The purchase price was about $113 million in cash, subject to post-closing adjustments, and was funded with borrowings under an ABL facility.
2. Earnout and technology
The sellers can earn up to C$10 million tied to Lifting Solutions’ 2027 financial performance, payable in early 2028. The acquisition adds continuous rod and progressing cavity pump technology to Flowco’s artificial lift offering for later-life well applications.
