Silicon Valley/Hamburg/Muscat – US-based Flowco Holdings Inc. has completed its acquisition of Lifting Solutions Energy Services Inc. for approximately USD 113 million. The transaction expands Flowco’s artificial-lift technology portfolio and strengthens its position in the Canadian and international oil and gas markets.
An international CMS team led by Dr Eckart Gottschalk advised Flowco on aspects of the transaction, including legal due diligence and post-closing governance matters relating to Lifting Solutions’ entity in Oman. CMS worked closely with US law firm Troutman Pepper Locke LLP, which also acted as legal adviser to Flowco on the acquisition.
Founded in 2014 and headquartered in Edmonton, Alberta, Lifting Solutions provides artificial-lift technologies to oil and gas operators in Canada, the United States, the Middle East and other international markets. Its portfolio includes continuous rod systems, proprietary rod coatings and progressive cavity pump (PCP) technologies designed to improve operational efficiency, extend equipment life and reduce maintenance costs.
The acquisition complements Flowco’s existing production optimisation business and broadens its range of solutions for oil and gas wells throughout their operational lifecycle. It also expands the company’s geographical reach and creates opportunities to introduce complementary technologies to the customer bases of both businesses.
