Flowco Holdings said it closed its acquisition of Lifting Solutions Energy Services for about $113 million in cash, expanding its artificial lift lineup with continuous rod and progressing cavity pumps (PCP).
Lifting Solutions, founded in 2014 and based in Edmonton, Alberta, operates across Canada, the United States, the Middle East and other international markets. Flowco said the deal adds a scaled Canadian platform and an established international presence.
The purchase price was based on a CAD/USD exchange rate of 0.71 and was structured on a cash-free, debt-free basis. Flowco funded the acquisition with borrowings under its ABL facility.
The seller can also earn up to C$10 million in contingent consideration tied to Lifting Solutions’ 2027 financial performance, with payment due in early 2028.
Flowco said the acquisition broadens its addressable market and creates cross-sell opportunities across the two companies’ customer bases and geographies. The company said the deal is expected to be accretive to earnings and free cash flow per share.
Flowco also said it will discuss the acquisition on a conference call and webcast on Friday, Oct. 2, 2026 at 7:30 a.m. Eastern time. The market has reacted to these announcements by moving the company's shares 0.99% to a price of $18.28. Check out the company's full 8-K submission here.
