Flowco Holdings Inc.

Flowco Holdings Inc. has closed its acquisition of Lifting Solutions Energy Services Inc., a vertically integrated manufacturer of artificial lift technologies, for approximately US$113 million in cash based on a CAD/USD exchange rate of 0.71. The sellers are also eligible to receive contingent consideration of up to C$10 million based on Lifting Solutions' 2027 financial performance, payable in early 2028. Founded in 2014 and headquartered in Edmonton, Alberta, Lifting Solutions is a leading provider of continuous rod and progressing cavity pumps serving wells across Canada, the United States, the Middle East, and other international markets. Flowco said the deal adds continuous rod and PCP technologies to its artificial lift offering, provides a scaled Canadian and international platform, and is expected to be accretive to earnings and free cash flow per share. The transaction was structured on a cash-free, debt-free basis and funded with borrowings under Flowco's ABL facility.

Flowco Holdings reported second quarter 2026 adjusted EBITDA of approximately $94 million, with revenue up 13% sequentially to $236 million. The company generated $50 million of free cash flow and maintained adjusted EBITDA margins of roughly 40%. Production Solutions revenue rose 22% to $171 million, driven by Downhole Components including the Valiant acquisition, while Natural Gas Technology revenue fell 6% to about $65 million. Flowco guided third quarter adjusted EBITDA to $92 million to $98 million and announced a one-time special dividend of $0.14 per share to Class A shareholders, in addition to its quarterly dividend of $0.09.

Flowco Holdings Inc. reported second-quarter net income of $12.52 million, or $0.28 per share, up from $5.47 million, or $0.21 per share, a year earlier. Revenue rose 22.1% to $235.86 million from $193.22 million in the prior-year period.

Flowco Holdings Inc. has appointed John R. Rutherford as an independent director, effective July 29, 2026. The appointment expands the board to nine directors and increases the number of independent directors from four to five. Rutherford brings over 30 years of experience in investment banking, energy operations, and corporate strategy, and currently serves on the boards of Enterprise GP, T.D. Williamson, and as a trustee of the Teacher Retirement System of Texas. He previously held executive roles at Plains All American Pipeline and Lazard, and holds an MBA from the Wharton School. Flowco is a provider of production optimization and emissions management solutions for the oil and gas industry.