Rosemont, IL – January 24, 2023 – Wynnchurch Capital, L.P. (“Wynnchurch”), a leading middle market private equity firm, announced today that it has acquired a majority ownership in FloWorks International, LLC (“FloWorks” or the “Company”) from Clearlake Capital Group, L.P (together with its affiliates, “Clearlake”). Clearlake will retain a minority stake in the go-forward business. Headquartered in Houston, Texas, FloWorks is a leading specialty distributor of critical flow control products and provider of tailored technical solutions for MRO-focused applications.
“We have built a strong reputation for providing specialty flow control solutions used in critical applications to our customers. We are excited to partner with Wynnchurch to further grow our business and expand our product and service offering,” said Scott Jackson, CEO of FloWorks.
Greg Gleason, Managing Partner at Wynnchurch, said, “FloWorks is a market leader in flow control distribution providing highly engineered products and tailored technical solutions to a diverse customer base. We are excited to partner with Scott and the team to grow the FloWorks platform.”
Kevin Hanley, Vice President at Wynnchurch, said, “FloWorks has built an impressive platform with unique OEM partnerships and diverse end user relationships. We look forward to working with the FloWorks leadership team as the Company continues to execute on exciting organic initiatives and strategic M&A.”
Wynnchurch is actively seeking investment opportunities for its $2.277 billion Fund V. In December 2022, Wynnchurch acquired Industrial Service Solutions, a national provider of MRO-focused field, shop, and supply services. Other recent Wynnchurch investments include: FCA, a leading manufacturer of customized industrial protective packaging solutions; Mattress Warehouse, a leading independent mattress retailer with over 300 locations; Premier Franchise Management, the largest U.S. residential pool-build and pool-service franchisor; Appvion, a leading provider of specialty and high performance direct thermal coatings and application tapes; and Owen, a leading provider of critical infrastructure equipment, aftermarket parts and services.
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin, Ireland. More information is available at www.clearlake.com and on Twitter @Clearlake.
Headquartered in Houston, Texas, 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 chemicals, downstream refining & renewables, high purity & sanitary, and other industrial end markets. FloWorks’ product categories include valves & automation, corrosion resistant flow control, rotating equipment, flanges, filters & purifiers, and instrumentation. For more information, please visit: www.gofloworks.com.
ABOUT WYNNCHURCH CAPITAL:
Wynnchurch Capital, L.P., headquartered in the Chicago suburb of Rosemont, Illinois, with an office in New York and an affiliate in Canada, was founded in 1999, and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with $5.3 billion of regulatory assets under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs and restructurings. For more information, please visit: www.wynnchurch.com.
FOR MORE INFORMATION PLEASE CONTACT
- Greg B. Gleason
- Paul Ciolino
- Michael A. Teplitsky
- Kevin Hanley