BIRMINGHAM, Ala. (August 18, 2022) – Founders is pleased to announce that certain principals of Founders Advisors advised Flotech, Inc. (“Flotech” or the “Company”) in its sale to FloWorks International LLC (“FloWorks”), a specialty flow control distribution platform. The transaction closed on July 29, 2022.
Founded in 1961, Flotech is a distributor and servicer of industrial valves and automation solutions across the Southeast U.S. with three locations in Jacksonville, FL, Charleston, SC, and Mobile, AL. The Company’s family of products includes industrial and isolation valves, gate valves, globe valves, check valves, actuation and controls, and safety and relief valves, among others. Flotech also provides a full range of service offerings, including valve maintenance, automation and actuation, heat exchanger maintenance, and testing and certification. The Flotech management team, including CEO Caleb Goelz and President John Allen, will continue with the Company.
Together with Flotech, FloWorks will have over 50 global branches, all strategically located in key markets to support customers focused on the chemical, sanitary, utility, refining, integrated circuit fabrication, pulp and paper, power generation, municipal, microelectronics, life sciences, food & beverage, agriculture, and general industrial end markets.
“We are excited to add Flotech to the FloWorks platform to better serve our customers by expanding our product offering to include pressure relief valves and services,” said Scott Jackson, President and CEO of FloWorks. “This combination provides an exciting opportunity to strengthen both Flotech’s and FloWorks’ long history in the pulp and paper, power generation, and municipal and wastewater end markets to accelerate our compelling growth plans. We are excited to partner with Caleb and John to build upon the great foundation built by the Goelz family.”
“Flotech has experienced tremendous success since our founding, and with the backing of FloWorks we will be able to accelerate our compelling growth plan,” said Mr. Caleb Goelz. “We are confident that this transaction will provide our customers with access to greater resources while offering the same attention to detail, ingenuity, and sense of urgency in providing state of the art solutions to challenging problems. The future is bright for the Flotech team and our suppliers.”
John Sullivan, Managing Director at Founders, said “It has been a privilege for Founders to work with Caleb, John and their impressive team. We are delighted to have been able to serve them through this transaction, and we look forward to seeing the future success of Flotech in its combination with FloWorks. We remain deeply committed and connected to the specialty distribution / flow control space and this is another great example of the type of solid strategic partnership we like to put together.”
FloWorks is a holding company of specialty flow control distribution providers with brands including Sunbelt Supply, SemiTorr Group, netMercury, Oliver Equipment Company, Triple S, Major Inc., Genesis Systems Inc., and National Valve. The company is a specialty distributor of industrial flow control products and an expert provider of tailored technical solutions for processing applications in the industrial markets. FloWorks operates over 50 facilities worldwide. More information is available at www.gofloworks.com.
Flotech is a leading value-added distributor and servicer of industrial valves and automation solutions across the Southeast U.S. Flotech creates value for customers by bridging the gap between manufacturers and end users with its premier product line of new valves and accessories, technical expertise, and extensive valve service capabilities from its 3 locations. More information is available at www.flotechinc.com.
About Founders Advisors, LLC
Founders is a merger, acquisition, & strategic advisory firm serving middle-market companies. Founders focuses on helping companies across technology, business services, consumer, energy, industrial, and healthcare industries. Founders’ skilled professionals, proven expertise, and process-based solutions help companies access growth capital, make acquisitions, and/or prepare for and execute liquidity events to achieve specific financial goals. In order to provide securities-related services discussed herein, certain principals of Founders Advisors, LLC are licensed with Founders M&A Advisory, LLC, member FINRA and SIPC. Founders M&A Advisory, LLC is a wholly-owned subsidiary of Founders Advisors, LLC. Founders Advisors, LLC does not provide investment advice. For more information, please visit www.foundersib.com.