M&A Deal Summary

TowerBrook Capital Partners, The Stephens Group and Clearlake Capital Acquire FloWorks

On March 12, 2012, private equity firm TowerBrook Capital Partners, family office The Stephens Group and private equity firm Clearlake Capital acquired distribution company FloWorks

Acquisition Highlights
  • This is TowerBrook Capital Partners’ 3rd, The Stephens Group’s 1st and Clearlake Capital’s 1st transaction in the Distribution sector.
  • This is TowerBrook Capital Partners’ 19th, The Stephens Group’s 30th and Clearlake Capital’s 9th transaction in the United States.
  • This is TowerBrook Capital Partners’ 5th, The Stephens Group’s 15th and Clearlake Capital’s 3rd transaction in Texas.
Investment Fate
  • FloWorks was sold to a consortium of financial buyers in 2023.

M&A Deal Summary

Date 2012-03-12
Target FloWorks
Sector Distribution
Buyer(s) TowerBrook Capital Partners
The Stephens Group
Clearlake Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

FloWorks

Pasadena, Texas, United States
FloWorks is a specialty distributor of critical flow control products and a provider of tailored technical solutions for MRO-focused applications. The Company serves customers across chemicals, downstream refining & renewables, high purity & sanitary, and other industrial end markets. Its product categories include valves & automation, corrosion-resistant flow control, rotating equipment, flanges, filters & purifiers, and instrumentation. FloWorks is based in Pasadena, Texas.

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Buyer(S) 3

Buyer

TowerBrook Capital Partners

New York, New York, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 17.4B USD
Size Mega
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 99
Sector (Distribution) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 22 of 35
State (Texas) 5 of 7
Country (United States) 19 of 44
Year (2012) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-19 Volution

Crawley, United Kingdom

Volution is a manufacturer and distributor of ventilation products. The company operates 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, England.

Buy £163M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-31 Vistage

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 was founded in 1957 and is based in San Diego, California.

Buy -
Buyer

The Stephens Group

Little Rock, Arkansas, United States


Category Family Office
Founded 1933
PE ASSETS 1.5B USD
Size Large
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 53
Sector (Distribution) 1 of 5
Type (Buyout (LBO, MBO, MBI)) 19 of 27
State (Texas) 15 of 18
Country (United States) 30 of 50
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, Califonia.

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

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

Clearlake Capital

Santa Monica, California, United States

Category Private Equity Firm
Founded 2006
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

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


DEAL STATS #
Overall 10 of 91
Sector (Distribution) 1 of 3
Type (Buyout (LBO, MBO, MBI)) 2 of 12
State (Texas) 3 of 13
Country (United States) 9 of 86
Year (2012) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-29 Solutionary

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
2012-08-07 Aptean

Alpharetta, Georgia, United States

Aptean provides industry-specific software solutions that help businesses manage their resources, supply chains, employees, and customer relationships. The company offers clients ERP, supply chain management, and customer experience solutions. Aptean is based in Alpharetta, Georgia.

Buy -