Parties
Company
Clearlake Capital Group, L.P.
Company
FloWorks International, LLC
Company
Wynnchurch Capital, L.P.
On January 24, 2023, Clearlake Capital Group, L.P., and its affiliates (collectively "Clearlake") recently completed the sale of a majority interest in FloWorks International, LLC ("FloWorks"), a specialty flow control distribution platform, to Wynnchurch Capital, L.P. ("Wynnchurch"). Despite this transaction, Clearlake will maintain a minority stake in FloWorks. The financial details of this sale were not revealed.
During Clearlake's ownership, FloWorks underwent significant growth through seven strategic acquisitions, enhancing its flow control product portfolio. This series of acquisitions was part of a broader strategic transformation under Clearlake's proprietary O.P.S.® value creation framework, emphasizing the divestiture of non-core business lines and investment in customer and employee development.
José E. Feliciano and James Pade, Co-Founder and Managing Partner, and Partner and Managing Director at Clearlake respectively, praised the successful strategic transformation executed at FloWorks. They highlighted the role of FloWorks' CEO, Scott Jackson, and his management team in this process. Clearlake's strategy involved acquiring specialty distributors and investing in the company's key areas, with plans to continue partnering with FloWorks and Wynnchurch for further expansion.
Scott Jackson, President and CEO of FloWorks, expressed gratitude for Clearlake's partnership and the growth achieved, including significant capital investment and team development. He anticipates further growth under Wynnchurch's guidance, with continued support from Clearlake.
Deal Type
Merger & AcquisitionIndustry
Tech/Computer/ITTransaction
Undisclosed/ConfidentialDeal Status
ActiveClosing Date