M&A Deal Summary

Flowco Acquires Estis Compression

On June 20, 2024, Flowco acquired energy services and equipment company Estis Compression from GEC, Genesis Park and Cohesive Capital Partners

Acquisition Highlights
  • This is Flowco’s 2nd transaction in the Energy Services and Equipment sector.
  • This is Flowco’s 3rd transaction in the United States.
  • This is Flowco’s 2nd transaction in Texas.

M&A Deal Summary

Date 2024-06-20
Target Estis Compression
Sector Energy Services and Equipment
Buyer(s) Flowco
Sellers(s) GEC
Genesis Park
Cohesive Capital Partners
Deal Type Merger

Target

Estis Compression

Kilgore, Texas, United States
Estis Compression is a vertically integrated manufacturer and rental provider of compression equipment for use in upstream oil and gas operations. Estis Compression is based in Kilgore, Texas.

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Buyer(S) 1

Buyer

Flowco

Houston, Texas, United States

Category Company
Sector Energy Services and Equipment
Revenue 665M USD (2023)
DESCRIPTION

Flowco provides a comprehensive suite of production optimization and methane mitigation solutions. Flowco is based in Houston, Texas.


DEAL STATS #
Overall 3 of 3
Sector (Energy Services and Equipment) 2 of 2
Type (Merger) 3 of 3
State (Texas) 2 of 2
Country (United States) 3 of 3
Year (2024) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-20 Flogistix

Oklahoma City, Oklahoma, United States

Flogistix manufactures wellhead gas compressors designed to meet complex unconventional reservoir compressor and vapor recovery applications. The company's equipment and services are used to improve production rates, extend the useful life of a well, increase proven reserves, reduce emissions and capture valuable vapors that would otherwise be vented or flared. With compressor control systems and a proprietary Multi-Stream system that enables companies to target and control multiple sources of gas at various pressures, Flogistix provides production optimization services for some of the largest major and independent oil and gas producers in the world. Flogistix was formed in 1996 and is based in Oklahoma City, Oklahoma.

Buy -

Seller(S) 3

SELLER

GEC


Category Private Equity Firm
Founded 2008
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

GEC (Global Energy Capital) is a private equity firm specialized in the acquisition and development of industrial products companies. The Firm is primarily interested in companies that serve the energy industry, with innovative products and that are well-positioned to grow organically, via acquisitions, or through both. GEC was established in 2008 and is headquartered in Houston, Texas.


DEAL STATS #
Overall 6 of 7
Sector (Energy Services and Equipment) 3 of 4
Type (Merger) 2 of 2
State (Texas) 5 of 6
Country (United States) 5 of 6
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-20 Flowco Production Solutions

Houston, Texas, United States

Flowco Production Solutions designs, manufactures, installs and services artificial lift equipment to maximize the efficiency and lifespan of production from oil and natural gas wells. Flowco manufactures and installs high-performance gas and plunger lift systems for E&P operators. Flowco Production Solutions is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-15 Flowco

Houston, Texas, United States

Flowco provides a comprehensive suite of production optimization and methane mitigation solutions. Flowco is based in Houston, Texas.

Sell -
SELLER

Genesis Park

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
Size Small
Type Sector Agnostic
DESCRIPTION

Genesis Park is a private equity firm focused on lower middle-market opportunities. Transaction situations of interest include growth capital financings, carveouts, buyouts, special situations, and helping founder/family companies. The Firm has a preference for majority control, but will consider select minority investments. Prospective businesses are generally profitable ($3 million) with $10 million of revenue. Genesis Park was formed in 1999 and is headquartered in Houston, Texas.


DEAL STATS #
Overall 14 of 15
Sector (Energy Services and Equipment) 1 of 2
Type (Merger) 2 of 2
State (Texas) 12 of 13
Country (United States) 14 of 15
Year (2024) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-19 Twenty20 Solutions

Irving, Texas, United States

Twenty20 Solutions is a global provider of automation and security technology, smart surveillance, monitoring, and access control solutions for on- and off-grid environments. It offers a full suite of AI and video analytics technologies, including object detection, facial recognition, license plate recognition, and thermal & radar detection. Twenty20 Solutions is based in Irving, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-10 Layne Water Midstream

The Woodlands, Texas, United States

Layne Water Midstream is a full cycle water midstream business providing upstream oil and gas companies with water sourcing, disposal and recycling infrastructure and services in the Delaware and Midland Basins. LWM operates significant source water, water transportation and produced water management infrastructure and is committed to further growth to support its upstream customers in the Delaware and Midland Basins. Layne Water Midstream is based in The Woodlands, Texas.

Sell -
SELLER
DESCRIPTION

Cohesive Capital Partners is private equity co-investment firm. The Firm looks to invest and work alongside deal sponsors in small to mid-sized companies and will consider businesses operating in any sector. Prospective deal situations include buyouts, growth equity financings, and other opportunistic situations. Cohesive Capital Partners was formed in 2010 and is based in New York City.


DEAL STATS #
Overall 3 of 3
Sector (Energy Services and Equipment) 1 of 1
Type (Merger) 1 of 1
State (Texas) 1 of 1
Country (United States) 3 of 3
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-22 Forman Mills

Pennsauken, New Jersey, United States

Forman Mills is a provider of apparel and footwear for men, women, and children as well as home goods. Forman Mills owns and operates 36 stores in nine states. Forman Mills was founded in 1985 and is based in Pennsauken, New Jersey.

Sell -