Flowco (NYSE:FLOC) said it has acquired Lifting Solutions Energy Services Inc., an Edmonton, Alberta-based manufacturer and service provider of artificial lift technologies, for approximately $113 million. The company expects to fund the transaction through borrowings under its existing asset-based lending facility.
President and Chief Executive Officer Joe Bob Edwards said the acquisition advances Flowco’s strategy of building a broader production optimization platform. Lifting Solutions adds continuous rod and progressing cavity pump, or PCP, technologies to Flowco’s portfolio and expands the company’s presence in Canada and international markets.
Lifting Solutions’ management team will remain with Flowco, Edwards said. The agreement also includes a potential future contingent payment tied to Lifting Solutions’ 2027 financial performance.
Technology and service network
Lifting Solutions provides continuous rod systems, marketed under the Endless Rod name, and PCP systems. Continuous rod is a jointless rod string installed inside production tubing for use in reciprocating rod lift and PCP applications. According to Flowco, the jointless design can reduce friction and other failure points associated with jointed rod strings, potentially limiting downtime and well interventions.
The company’s PCP products are designed for heavy, viscous and solids-laden production applications. PCP is the leading artificial lift technology in Canada, Edwards said, and Lifting Solutions has developed proprietary pump designs and elastomer technology intended to improve reliability and run life.
During the question-and-answer session, Edwards said Lifting Solutions holds the leading market share in Canada for both continuous rod and PCP products. He cited the company’s coated continuous-rod technology as a key competitive differentiator, saying it can improve efficiency and support installations in harsher well environments. He also pointed to the specialized manufacturing and elastomer expertise required for PCP systems.
Lifting Solutions is vertically integrated, with research and development, engineering, manufacturing and field services performed in-house. Its manufacturing footprint includes Canada and Oman, while its service network spans Canada, the U.S. and Oman.
Canada and international expansion
The acquisition gives Flowco an established entry point in Western Canada, where Lifting Solutions operates from its Edmonton headquarters and 11 service bases. The business served more than 100 active customers in the region last year, according to Flowco.
Edwards said Lifting Solutions has developed coverage across Western Canadian geographies relevant to its products and serves a mix of light- and heavy-oil applications. Flowco plans to use Lifting Solutions’ service network and customer relationships to introduce products that are not currently offered by the acquired company, including high-pressure gas lift, electric submersible pumps, gas lift, plunger lift and vapor recovery units.
Approximately 77% of Lifting Solutions’ 2025 revenue was generated outside the U.S., Flowco said. Lifting Solutions operates across 16 countries through its distributor network and its manufacturing operations in Canada and Oman. Flowco expects the combined company to generate about 10% of revenue outside the U.S.
Edwards said Oman provides both manufacturing capacity and established customer relationships. He said the company has an existing contract in the country and sees potential for additional activity in the region.
Flowco also highlighted opportunities in Venezuela and Saudi Arabia. Edwards said Lifting Solutions has historical recognition and local distribution partners in Venezuela, where PCP technologies are used in both light- and heavy-oil production. In Saudi Arabia, he said Lifting Solutions’ continuous rod product has been selected by Sawafi and Saudi Aramco as one of the preferred vendors for artificial lift in the Jafurah Field. Flowco already has a relationship with Sawafi through its plunger-lift offering.
Financial profile and growth plans
Flowco said Lifting Solutions is a cash-generative business with free-cash-flow conversion similar to its own. Edwards estimated conversion at roughly 50% of EBITDA to free cash flow and said the acquired operation’s margin profile is broadly in line with Flowco’s other downhole product businesses.
The Lifting Solutions business will be reported within Flowco’s downhole components business in its production solutions segment. Revenue is entirely generated from product sales, Edwards said, though the products also require installation, maintenance and replacement over a well’s life.
He said capital spending is largely directed toward specialized equipment needed to install and maintain continuous rod systems, which cannot be handled by a traditional workover rig. The company operates installation equipment in Western Canada and throughout the U.S.
Edwards said Lifting Solutions has historically recorded low-double-digit growth and has expanded faster than the Canadian market by taking share. He also said Flowco reviewed potential U.S.-Canada tariff exposure and concluded that both historical and expected impacts were minimal because of Lifting Solutions’ supply-chain diversification and sourcing flexibility.
The transaction follows Flowco’s earlier acquisition of Valiant. Edwards said the company will continue to evaluate additional product adjacencies and acquisition opportunities within the production phase of a well’s life cycle.
About Flowco (NYSE:FLOC)
Flowco Holdings Inc is an energy-services company that provides production optimization and emissions-reduction solutions to oil and natural gas producers. The company focuses on technologies and services that help operators improve the performance, reliability and efficiency of producing wells.
Its offerings include artificial-lift systems, wellhead compression, vapor recovery and other equipment designed to support oil and gas production. Flowco also provides automation, monitoring and related field services intended to help customers manage production operations and reduce emissions from their assets.
Flowco serves customers across major U.S.
