Flow Control Group announced April 29 that it will receive a new investment from Neuberger Private Markets, with existing backer KKR maintaining majority ownership of the distributor.

Charlotte, NC-based Flow Control Group (FCG) is a North American distributor network focused on technical flow control and industrial automation products and services. The company serves more than 10,000 customers and works with roughly 2,000 suppliers across sectors such as air equipment, pumps, valves and process control.

Under the transaction, Neuberger will take a significant minority stake in FCG through its private markets platform, while KKR will remain the majority investor and continue its partnership with the company’s management team. Terms of the investment were not disclosed.

KKR originally acquired Flow Control Group in 2021 from Bertram Capital, positioning the business as a platform for growth in flow control and industrial automation distribution. Since then, FCG has expanded through acquisitions and organic initiatives, building a network of distribution and technical service providers across North America.

“We’ve followed Flow Control Group’s evolution over the past decade, and we view the platform as a best-in-class distributor and key technical provider for its customers in industries benefiting from favorable tailwinds,” Neuberger Deputy Head David Stonberg said in a news release. “As a result of its strong technical differentiation, resilient business model, and proven track record of growth, we couldn’t be more pleased to collaborate with KKR, the management team, and FCG’s employee-owners to support the Company’s continued expansion and long-term value creation.”

“KKR has played a critical role in supporting our growth, and we are excited to welcome Neuberger as we continue to expand our capabilities, invest in our team and pursue new opportunities across our markets,” FCG President and CEO Raymond Aronoff added.