NOW Inc. (NYSE: DNOW), Houston, Texas, on Monday announced that it has agreed to acquire Flex Flow, Midland, Texas, from GR Energy Services Holdings LP, a portfolio company of the private equity firm Pine Brook Partners. Financial terms of the all-cash deal weren’t disclosed.
“We are excited about the opportunity to add the Flex Flow business to DistributionNOW,” said David Cherechinsky, president and CEO of NOW Inc. “With its established position in the horizontal multi-stage centrifugal pump (“H-pump”) packages and water management solutions market, Flex Flow will provide numerous attractive opportunities in the midstream space for DNOW. We are looking forward to the opportunity to welcome the Flex Flow employees to our team. DNOW plans to continue to seek acquisitions that can add to its historical return profile in a positive manner and we believe the Flex Flow acquisition will be an excellent example of that.”
Flex Flow serves the Permian, Bakken/Rockies and Mid-Continent regions.