Watch for integration execution and cross-sell opportunities across Flowco's and Lifting Solutions' respective geographic footprints and the outcome of post-closing purchase price adjustments and the contingent earnout payment based on 2027 EBITDA. Monitor the company's next quarterly earnings for commentary on the acquisition and any regulatory review under the Investment Canada Act.
Price Chart
Executive Summary
Flowco Holdings Inc. (FLOC) announced the closing of its acquisition of Lifting Solutions Energy Services Inc., a vertically integrated manufacturer of artificial lift technologies (continuous rod and progressing cavity pumps), for approximately US$113 million in cash (C$159 million base, subject to adjustments), funded via its ABL facility. The deal closed simultaneously with signing on October 2, 2026, and includes a contingent earnout of up to C$10 million based on 2027 EBITDA. The acquisition expands Flowco's artificial lift portfolio into rod lift and PCP markets, adds a Canadian and international platform (including Oman, Middle East, and other international markets), and is expected to be accretive to earnings and free cash flow per share.
Key Financial Metrics
Key Facts
- Acquired Lifting Solutions for ~US$113 million cash (C$159M base, subject to adjustments), funded via ABL facility.
- Contingent earnout up to C$10M based on 2027 EBITDA (threshold C$32M, cap C$36.8M).
- Purchase price ~5.0x Lifting Solutions 2027E Adjusted EBITDA.
- Lifting Solutions has ~$23M 2027E Adjusted EBITDA.
- ~50% 2027E Unlevered Free Cash Flow / Adjusted EBITDA.
- Transaction closed simultaneously with signing on October 2, 2026.
- Acquisition expands portfolio into continuous rod and PCP, PCP, and international presence (Canada, Middle East.
- Expected accretive to earnings and free cash flow per share.
Financial Impact
~US$113 million cash consideration (C$159 million base, subject to adjustments) plus up to C$10 million contingent earnout based on 2027 EBITDA.
Risk Factors
- Integration risk: failure to achieve expected synergies and value creation.
- Potential adverse reactions from employees, suppliers, customers, or credit rating agencies.
- Regulatory review under the Investment Canada Act.
- Contingent earnout payment may not be realized.
- Leverage from ABL facility increases debt.
- Macro risk from changes in oil and gas industry and commodity prices.
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-411196 |
| Document: floc-20261002.htm | 0001193125-26-411196 |
| Document: floc-ex99_1.htm | 0001193125-26-411196 |
| Document: floc-ex99_2.htm | 0001193125-26-411196 |
| Document: 0001193125-26-411196-index-headers.html | 0001193125-26-411196 |
| Document: 0001193125-26-411196-index.html | 0001193125-26-411196 |
| Document: 0001193125-26-411196.txt | 0001193125-26-411196 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 144 | $19.10 | awaiting T+60 | — | $19.69 (+3.09%) |
Oct 2, 2026 24d ago | 8-K | $18.46 | awaiting T+60 | — | $19.69 (+6.66%) |
Aug 25, 2026 8w ago | 8-K | $20.64 | awaiting T+60 | — | $19.69 (−4.60%) |
Aug 11, 2026 10w ago | 8-K | $23.26 | awaiting T+60 | — | $19.69 (−15.35%) |
Aug 10, 2026 11w ago | 8-K | $23.26 | awaiting T+60 | — | $19.69 (−15.35%) |
Jul 30, 2026 12w ago | 8-K | $19.73 $19.63 | ▼ −0.51% | ▼ −2.97% | $19.69 (−0.20%) |
Jun 26, 2026 17w ago | Institutional Cluster | $21.80 $19.87 | ▼ −8.85% | ▼ −13.34% | $19.69 (−9.68%) |
Jun 11, 2026 19w ago | Institutional Cluster | $23.72 $21.10 | ▼ −11.05% | ▼ −15.44% | $19.69 (−16.99%) |
May 7, 2026 24w ago | 8-K | $24.84 $20.36 | ▼ −18.04% | ▼ −22.87% | $19.69 (−20.73%) |
May 6, 2026 24w ago | 8-K | $24.25 $20.45 | ▼ −15.67% | ▼ −17.73% | $19.69 (−18.80%) |
US Market Status
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