Flowco Closes $113M Lifting Solutions Deal, Adding PCP and Continuous Rod
Flowco Holdings has closed a roughly $113 million cash purchase of Lifting Solutions Energy Services, bringing continuous rod systems and progressing cavity pump (PCP) technology into its production optimization business, World Oil reports. Edmonton-based Lifting Solutions manufactures artificial lift equipment for operators in Canada, the United States, the Middle East and other markets.
Lifting Solutions’ portfolio includes continuous rod, an alternative to conventional rod lift strings, plus proprietary rod coatings and PCPs. World Oil says the products are designed to extend run times and cut workover and lifting costs on mature wells. Flowco CEO Joe Bob Edwards said the deal lets the company offer “the right solutions to customers throughout the life of the well.”
The price is subject to customary adjustments. Sellers can earn up to C$10 million more based on Lifting Solutions’ 2027 financial performance, payable in early 2028. Flowco funded the deal through its asset-based lending facility and expects it to be accretive to earnings and free cash flow per share.
What It Means for Subcontractors
- Rod lift and PCP service crews (Alberta and US basins): If your installs or repairs use Lifting Solutions continuous rod, coatings or PCPs, or Flowco lift equipment, pull those supply and service agreements now. Check assignment and change-of-control language and confirm your purchasing contact. The source does not say terms will change.
- Workover contractors on mature wells: Flowco is pitching longer run times and lower workover costs. Inference: operators may ask about continuous rod or PCP conversions, which could change handling equipment and crew training. Ask your operator production engineers about this before Q1 planning.
- No bid stage exists: This is a closed corporate deal with no subcontract packages. Flowco says it will cross-introduce technologies to both companies’ customer bases, and the 2027 earn-out runs through early 2028. Inference: expect an active sales push in Canada and the Middle East through 2027.
