HOUSTON, Oct 3 — Flowco Holdings Inc. (NYSE: FLOC) (“Flowco” or the “Company”), a provider of production optimization, artificial lift, and emissions management and monetization solutions for the oil and natural gas industry, today announced the closing of its acquisition of Lifting Solutions Energy Services Inc. (“Lifting Solutions”), a vertically integrated manufacturer of artificial lift technologies serving wells across Canada, the United States, the Middle East, and other international markets. Founded in 2014 and headquartered in Edmonton, Alberta (Canada), Lifting Solutions is a leading provider of continuous rod, a differentiated alternative to conventional rod lift strings, and progressing cavity pumps (“PCP”). Lifting Solutions’ technical capabilities include the in-house development of proprietary rod coatings and PCP technologies designed to extend run times and reduce customer workover and lifting costs. Flowco acquired Lifting Solutions for approximately US$113 million in cash, based on a CAD/USD exchange rate of 0.71, subject to adjustment in accordance with the purchase agreement.
Transaction Highlights and Strategic Rationale
- Expands Portfolio and Addressable Market — Adds continuous rod and PCP technologies, broadening Flowco’s artificial lift offering and expanding participation in later-life well applications
- Provides Canadian and International Platform — Adds scaled Canadian operations and an established international presence, providing a platform to accelerate growth across Canada, the Middle East and other global markets
- Creates Cross-Sell Opportunities — Leverages complementary products, technical expertise and customer relationships across Flowco’s and Lifting Solutions’ respective geographic footprints
- Accretive Transaction — Expected to be accretive to earnings and free cash flow per share
Joe Bob Edwards, President and Chief Executive Officer of Flowco, commented, “We are pleased to welcome the Lifting Solutions team to Flowco. They have built a differentiated business through a deep commitment to technology, technical expertise and high-quality service—values that align closely with our own. The acquisition broadens our artificial lift portfolio and expands our ability to provide the right solutions to customers throughout the life of the well. This transaction extends Flowco’s geographic reach and creates meaningful opportunities to bring a broader set of technologies to customers across both businesses.”
David Labonte, Founder and Chief Executive Officer of Lifting Solutions, stated, “We look forward to joining Flowco and bringing together two highly complementary businesses. Together, we can build on the strengths of both organizations and support the continued growth of the combined company.”
Transaction and Timing
The cash consideration paid in the acquisition was approximately US$113 million in cash, based on a CAD/USD exchange rate of 0.71, subject to adjustments in accordance with the purchase agreement. The sellers are also eligible to receive contingent consideration of up to C$10 million based on Lifting Solutions’ 2027 financial performance, payable in early 2028. The transaction was structured on a cash-free, debt-free basis, and Flowco funded the cash consideration with borrowings under its ABL facility.
Conference Call and Webcast Information
Flowco will host a conference call and live webcast on Friday, October 2, 2026 at 7:30 a.m. Eastern Time to discuss the acquisition. The conference call can be accessed live over the phone by dialing 1-877-704-4453 (U.S.) or 1-201-389-0920 (international). A telephonic replay of the conference call will be available three hours after the call and can be accessed by dialing 1-844-512-2921 (U.S.) or 1-412-317-6671 (international). The passcode for the call and replay is 13762913. A live webcast of the conference call and corresponding presentation will also be available under the Investor Relations section of Flowco’s website at ir.flowco-inc.com.
