Flowco Holdings Inc. (NYSE: FLOC) announced the simultaneous closing of an acquisition on October 2, 2026. The company, through its wholly owned subsidiary Lifting Solutions Holdings Canada Corp., purchased all issued and outstanding equity interests of Lifting Solutions Energy Services Inc. The transaction was structured on a cash-free, debt-free basis.
The aggregate purchase price is C$159.0 million in cash, subject to customary adjustments. Based on a CAD/USD exchange rate of 0.71, this equates to approximately US$113 million. The cash consideration was funded through borrowings under Flowco’s five-year senior secured revolving credit facility.
Founded in 2014 and headquartered in Edmonton, Alberta, Lifting Solutions is a vertically integrated manufacturer of artificial lift technologies. Its portfolio includes continuous rod and progressing cavity pumps (PCP). The company serves wells across Canada, the United States, the Middle East, and other international markets.
In addition to the base purchase price, the sellers are eligible to receive a contingent earnout payment of up to C$10.0 million. This payment is based on the EBITDA generated by the acquired company during the twelve-month period commencing January 1, 2027, and ending December 31, 2027. The earnout payment is determined ratably based on the amount by which EBITDA exceeds a threshold of C$32.0 million, up to a maximum of C$10.0 million. No earnout is paid if EBITDA is equal to or less than the threshold. Any earnout payment is due no later than March 31, 2028.
Flowco highlighted that the acquisition adds continuous rod and PCP technologies to its artificial lift offering. The company stated the transaction is expected to be accretive to earnings and free cash flow per share.
