- Founded in 1961, Flotech has three locations in Jacksonville, Florida; Charleston, South Carolina; and Mobile, Alabama
- Clearlake’s core target sectors are technology, industrials and consumer
- Clearlake currently has over $72 billion of assets under management
FloWorks International LLC, which is backed by Clearlake Capital Group, has acquired Flotech, Inc, a distributor and servicer of industrial valves. No financial terms were disclosed.
Founded in 1961, Flotech has three locations in Jacksonville, Florida, Charleston, South Carolina, and Mobile, Alabama. The Flotech management team, including CEO Caleb Goelz and President John Allen, will continue with the company.
“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, in a statement. “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. We are excited to partner with Caleb and John to build upon the great foundation built by the Goelz family.”
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. FloWorks operates over 50 facilities worldwide.
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $72 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, California.