Acquisition of Control Valve, Regulator, and Valve Automation and Systems Distributor Expands Depth and Reach of FloWorks’ Portfolio of Flow Solutions Providers
HOUSTON and SANTA MONICA, Calif., Sept. 13, 2021 /PRNewswire/ — FloWorks, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), today announced it has acquired Genesis Systems, a distributor of control valve, regulator, and valve automation products and systems. FloWorks is a leading MRO focused specialty valve, rotating equipment, and flow control distribution platform differentiated by its specialty products and technical solutions for industrial markets. Financial terms of the transaction were not disclosed.
Founded in 1999, Genesis Systems offers a full suite of valve solutions from the world’s leading manufacturers, servicing a range of industrial and commercial markets, including the petrochemical, power generation, semiconductor, OEM, pharma, building automation and food & beverage industries. Headquartered in Garland, Texas, the company has an extensive, state-of-the-art valve automation center specializing in the assembly, repair and testing of valves and valve automation equipment. The Genesis Systems management team, including Founder Tom LeBlanc, President Mark Auer, and Vice President of Sales Mike Mabry, will continue with the company.
“Over the last two decades, Genesis Systems has earned an unmatched reputation in the valve industry for quality and range of solutions, and we are fortunate to add a company of this caliber to the FloWorks platform,” said Scott Jackson, President and CEO of FloWorks. “Not only will our clients benefit from its breadth of products and depth of experience, but we will also gain access to a premier customer base that we can better assist with our complementary products and services. We welcome Tom, Mark, Mike, and the rest of the Genesis Systems team, and look forward to a strong partnership.”
Genesis Systems will complement FloWorks’ Sunbelt Supply brand, a global provider in the supply and distribution of flow control products including manual valves, automated valves, valve services and specialty flow products serving the refining, petrochemical, chemical, mining, power generation, marine, and pulp and paper industries. This marks the third acquisition completed by FloWorks over the last two years, including Triple S in 2019 and Oliver Equipment Company (OEC) in 2020.
“Genesis Systems has experienced tremendous success since our founding, but with the backing of FloWorks and Clearlake we will be able to accelerate our compelling growth plan,” said Mr. LeBlanc. “With access to greater resources, more products and new relationships, we will be better able to serve our customers, while offering them the same attention to detail and ingenuity in solving their most pressing problems. The future is bright for the Genesis staff and our customers.”
“We set out to build FloWorks into a leading specialty distribution platform with superior industrial flow control products and solutions, and this acquisition of Genesis Systems takes us one step closer to realizing our vision,” said José E. Feliciano, Co-Founder and Managing Partner, and James Pade, Partner, of Clearlake. “We remain eager to execute on additional inorganic opportunities to grow the platform, while continuing to focus on numerous organic and operational opportunities driven by Clearlake’s O.P.S.® value creation framework.”
About FloWorks
FloWorks is a holding company for several flow solutions providers including Sunbelt Supply, Oliver Equipment Company, Triple S, Major Inc. and National Valve. The company is a specialty supplier of industrial flow control products and an expert provider of tailored technical solutions for processing applications in the industrial markets. FloWorks is headquartered in Houston, Texas and operates 30 facilities worldwide, in addition to the solutions and specialty products for severe service applications provided by locations of subsidiaries Sunbelt Supply, Oliver Equipment Company, Triple S, Major Inc. and National Valve. More information is available at www.gofloworks.com.
About Genesis Systems
Based in Garland, Texas, Genesis Systems is a distributor of control valve, regulator, and valve automation products and systems. Founded in 1999, Genesis Systems offers a full range of valve solutions from the world’s leading manufacturers, servicing a range of industrial markets, including the petrochemical, power generation, semiconductor, OEM, pharma, building automation and food & beverage industries. More information is available at www.callgenesis.com.
About Clearlake
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials, technology, and consumer. Clearlake currently has over $43 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.
Media Contacts
For FloWorks:
Elizabeth Hawkins
General Counsel
713-669-4397
Elizabeth.Hawkins@gofloworks.com
For Clearlake:
Lambert & Co.
Jennifer Hurson
845-507-0571
jhurson@lambert.com
SOURCE FloWorks; Clearlake Capital Group