Wynnchurch acquires flow control distribution platform FloWorks from Clearlake

Clearlake will retain a minority stake in the go-forward business.

  • Robert W. Baird & Co. Incorporated and RBC Capital Markets served as financial advisors to Clearlake and FloWorks
  • Founded in 2006, Clearlake Capital targets technology, industrials, and consumer
  • Wynnchurch Capital invests in the middle market

Clearlake Capital Group has sold a majority stake in FloWorks, a flow control distribution platform, to Wynnchurch Capital. No financial terms were disclosed.

Clearlake will retain a minority stake in the go-forward business.

“The strategic transformation executed at FloWorks in partnership with CEO Scott Jackson and his management team represents an exciting success story,” said José E. Feliciano, Co-founder and managing partner, and James Pade, a partner and managing director, at Clearlake, in a statement. “We identified FloWorks as an asset that could benefit from our proprietary O.P.S.® value creation framework, which involved acquiring seven regional specialty distributors, divesting non-core business lines, and investing in the company’s customer and people. We are excited to remain an investor in FloWorks and to continue to partner with Scott and his team, as well as Wynnchurch, to further expand the platform.”

Robert W. Baird & Co. Incorporated and RBC Capital Markets, LLC served as financial advisors to Clearlake and FloWorks. Vinson & Elkins and Kirkland & Ellis provided legal counsel to Clearlake and FloWorks.

Founded in 2006, Clearlake Capital targets technology, industrials, and consumer. Clearlake currently has over $70 billion of assets under management. The firm is headquartered in Santa Monica, California.

Wynnchurch Capital invests in the middle market. The firm manages a number of private equity funds with $5.3 billion of regulatory assets under management.