Posted April 7, 2021

NOW Inc. closes on Flex Flow acquisition

NOW Inc. announced the closing of its acquisition of the Flex Flow business from GR Energy Services, a portfolio company of Pine Brook.

The Flex Flow business acquired predominantly relates to the rental, sale and service of surface mounted and trailer mounted horizontal pumps, including jet pump systems.

The acquisition significantly expands DistributionNOW’s existing product offering with the addition of its rental product solution, comprising a fleet of 240 trailer-mounted horizontal pumping (“H-pump”) units.

NOW Inc. initially will pay $90 million in cash and an additional cash contingent consideration if certain profitability thresholds are achieved during the one-year period following the closing of the transaction.

“I am very excited about the value we will be able to offer our customers, from expanded application options to more service offerings, as we join together two best in class, highly trained and technical service organizations," said Toby Eoff, president - Process Solutions at NOW Inc. "It is my belief that the combination of these two organizations, with a shared focus on the customer being priority one and investing in and supporting our employees, will create greater value for our customers and elevate DistributionNOW into the leading pump supplier of choice. We are happy to welcome the Flex Flow employees to the DistributionNOW family.”