Flowco Acquires Lifting Solutions for $113 Million to Expand Artificial Lift Portfolio
admin Flowco Holdings has finalized its acquisition of Lifting Solutions Energy Services in an all-cash transaction valued at roughly $113 million. This strategic move enhances Flowco’s artificial lift capabilities and bolsters its footprint in Canadian and global oil and gas sectors.
Through this transaction, Flowco integrates continuous rod and progressing cavity pump (PCP) systems into its production optimization offerings, enhancing its solutions for late-stage well operations.
Based in Edmonton, Alberta, Lifting Solutions produces artificial lift equipment for energy companies across Canada, the United States, the Middle East, and other global regions. The company’s specialized offerings feature continuous rod systems—which serve as an alternative to standard jointed rod strings—alongside proprietary rod coatings and PCP systems engineered to prolong equipment life and lower operating and maintenance expenses.
According to Flowco, the merger will broaden its market footprint and open pathways to cross-sell complementary technologies to the combined customer base of both organizations.
“This acquisition diversifies our artificial lift suite and enhances our capacity to deliver tailored solutions to operators across the entire lifecycle of a well,” stated Joe Bob Edwards, President and CEO of Flowco. “The deal widens Flowco’s market presence and offers significant avenues to deliver an expanded range of technologies to our shared clientele.”
Established in 2014, Lifting Solutions contributes a robust Canadian infrastructure and a global client network to Flowco. The combined entity plans to leverage this acquisition to drive expansion throughout Canada, the Middle East, and additional international territories.
The purchase price of approximately $113 million in cash is subject to standard working capital adjustments. Additionally, the sellers can earn up to C$10 million in performance-based earnouts tied to Lifting Solutions’ 2027 financial metrics, to be distributed in early 2028.
Flowco financed the transaction using its existing asset-based revolving credit facility. The company anticipates the acquisition will immediately add to its earnings and free cash flow per share.
