Clearlake-backed FloWorks sells MultAlloy to Texas Pipe & Supply
Summary
FloWorks International LLC, a portfolio company of Clearlake Capital Group, said July 2 that it sold MultAlloy, J&J Alloy and J&J Bar operations, to Texas Pipe & Supply. Clearlake Capital-Backed FloWorks Sells MultAlloy Division to Texas Pipe & Supply Divestiture Supports Long-Term Strategic Vision to Strengthen the Company’s Leadership in Industrial, Specialty Flow Control Solutions under Sunbelt Supply Brand Houston, TX and Santa Monica, CA — July 2, 2019 —FloWorks International LLC (“FloWorks” or the “Company”) a leading specialty industrial distributor of pipe, valves, and fittings (“PVF”) and related technical solutions, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), today announced it has sold its master distribution division, MultAlloy, as well as the Company’s J&J Alloy and J&J Bar operations, to Texas Pipe & Supply. In the last five years, Sunbelt Supply has added 10 new branches organically and through acquisition, and continues to make investments to bring customers unmatched flow control expertise, particularly for critical ongoing maintenance, repair, and operating (“MRO”) applications in local markets. We are excited to answer the growing demand from our key customers, including supporting newly awarded MRO contracts, and we look forward to further investing in our customers and the Sunbelt Supply platform to satisfy their ongoing needs.” “FloWorks’ strategic focus on technical, specialty flow control solutions in the direct distribution channel has already yielded excellent results,” said José E. Feliciano, Managing Partner and Co-Founder, and James Pade, Partner, Clearlake. We remain committed to supporting that growth with the resources and relationships we bring through our O.P.S.®framework, and our strong partnership with Scott Jackson and the talented Sunbelt Supply team.” Houlihan Lokey served as financial advisor to FloWorks and MultAlloy.