M&A Deal Summary

The Stephens Group, TowerBrook Capital Partners and Clearlake Capital Group Acquires FloWorks International

On March 12, 2012, family office The Stephens Group, LLC, private equity firm TowerBrook Capital Partners and private equity firm Clearlake Capital Group acquired energy services and equipment company FloWorks International LLC

Acquisition Highlights
  • This is The Stephens Group’s 4th, TowerBrook Capital Partners’ 1st and Clearlake Capital Group’s 2nd transaction in the Energy Services and Equipment sector.
  • This is The Stephens Group’s 30th, TowerBrook Capital Partners’ 19th and Clearlake Capital Group’s 9th transaction in the United States.
  • This is The Stephens Group’s 14th, TowerBrook Capital Partners’ 5th and Clearlake Capital Group’s 3rd transaction in Texas.

M&A Deal Summary

Date 2012-03-12
Target FloWorks International LLC
Sector Energy Services and Equipment
Buyer(s) The Stephens Group, LLC
TowerBrook Capital Partners
Clearlake Capital Group
Deal Type Buyout (LBO, MBO, MBI)

Target

FloWorks International LLC

Houston, Texas, United States
website
FloWorks International LLC is a provider of pipe, valves, fittings, and related products and an expert provider of flexible technical solutions to the energy and industrial sectors. Through our strategic locations in North America, Asia and the Middle East, FloWorks delivers a broad spectrum of valves and automation services along with specialty metal, pipe, fittings, flanges and related products just-in-time. FloWorks International was founded in 2010 and is based in Houston, Texas.

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Buyer(S) 3

Buyer

The Stephens Group, LLC

Little Rock, Arkansas, United States

Investor Investor Investor Investor Investor

website


Category Family Office
Founded 1933
PE ASSETS 1.5B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

The Stephens Group is a private investment firm focused on long-term investments in mid-sized companies. The Firm looks to partner with management teams when pursuing acquisitions. Sectors of interest include energy, energy services, business services, industrials, consumer products, consumer services, financial services, healthcare, technology, media, and communications. The Stephens Group was originally established in 1933 and is headquartered in Little Rock, Arkansas.


DEAL STATS #
Overall 33 of 47
Sector (Energy Services and Equipment) 4 of 4
Type (Buyout (LBO, MBO, MBI)) 19 of 24
State (Texas) 14 of 17
Country (United States) 30 of 44
Year (2012) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-02 Covalent Health

Cotati, California, United States

Covalent Health is a provider of innovative logistics solutions to hospitals, payors, physicians, and health systems. The company operates through subsidiaries ProTransport-1, PRN Ambulance, Century Ambulance, and ATS Ambulance in the Northern California, Southern California, Northern Florida and the Metropolitan Chicago/Indianapolis markets. Covalent Health is based in Cotati, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-07 Centra Industries, Inc.

Cambridge, Ontario, Canada

Centra Industries is a family-owned manufacturer of structural components and assemblies for commercial aircraft, specializing in high-speed production of geometrically complex, tight tolerance parts. Company products can be found on major platforms such as Boeing's 737, 747, 777, and 787, Bombardier's RJ and Business Jet programs, Airbus's A-380, and Lockheed Martin's F35.

Sell -
Buyer

TowerBrook Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2001
PE ASSETS 17.4B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

TowerBrook Capital Partners is a private equity firm focused on leveraged buyouts, leveraged build-ups and distressed situation investments throughout North America and Europe. TowerBrook prefers control-oriented investments and actively pursues complex situations that other firms may avoid. Target sectors include consumer services, distribution, beverages, pharmaceuticals, media, technology, communications, software, and healthcare. TowerBrook Capital Partners was established in 2001 and is headquartered in New York City.


DEAL STATS #
Overall 34 of 76
Sector (Energy Services and Equipment) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 23 of 27
State (Texas) 5 of 6
Country (United States) 19 of 35
Year (2012) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-19 Volution Group plc

Crawley, United Kingdom

Volution is a UK manufacturer and distributor of ventilation products. Company operate through two divisions: the Ventilation Group, which primarily supplies ventilation products for residential and commercial construction applications in the UK, the Nordics, the Benelux countries and Germany; and Torin-Sifan, which supplies motors, fans and blowers to OEMs of heating and ventilation products for both residential and commercial construction applications in Europe. Volution Group was founded in 2014 and is based in Crawley, the United Kingdom.

Buy £163M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-31 Vistage International, Inc.

San Diego, California, United States

Vistage is a forum for business leaders to share their issues and experiences to help each other generate better decisions and results for their companies. Vistage members provide each other the same kind of counsel and support by meeting in person, collaborating online, and learning from hundreds of top industry speakers. Vistage was founded in 1975 and is based in San Diego, California.

Buy -
Buyer

Clearlake Capital Group

Santa Monica, California, United States

website


Category Private Equity Firm
Founded 2006
PE ASSETS 25.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds and other equity investments. Clearlake’s seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include business services, communication, media, energy and power, healthcare, manufacturing, retail, consumer and technology services. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.


DEAL STATS #
Overall 10 of 77
Sector (Energy Services and Equipment) 2 of 7
Type (Buyout (LBO, MBO, MBI)) 2 of 15
State (Texas) 3 of 11
Country (United States) 9 of 74
Year (2012) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-29 Solutionary, Inc.

Omaha, Nebraska, United States

Solutionary, Inc. is a provider of pure-play managed security service provider (MSSP), focused on delivering managed security services. Comprehensive Solutionary security monitoring and security management services protect traditional and virtual IT infrastructures, applications, network, and cloud & mobile environments.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-11 NetMotion Software, Inc.

Seattle, Washington, United States

NetMotion Software is a privately held software company that develops software for organizations with mobile workforces, focusing on security, management, and optimization of their wireless data deployments. NetMotion Software was founded in 2001 and is based in Seattle, Washington.

Buy -