ROSEMONT, Ill.--(BUSINESS WIRE)--July 13, 2026-- 
 
   Wynnchurch Capital, L.P. ("Wynnchurch"), a leading middle market private 
equity firm, today announced it has entered into a definitive agreement 
to sell FWI Holdings, Inc. ("FloWorks" or the "Company") to Ferguson 
Enterprises, Inc. (NYSE: FERG; LSE: FERG). The cash transaction values 
FloWorks at an enterprise value of approximately $1.6 billion. 
 
 
   Headquartered in Houston, Texas, FloWorks is a leading specialty 
distributor of critical flow control products and provider of tailored 
technical solutions for MRO-focused applications, serving customers 
across a broad range of critical industrial end markets. 
 
 
   Wynnchurch acquired FloWorks in January 2023. Under Wynnchurch's 
ownership, FloWorks completed seven strategic add-on acquisitions, 
expanded its footprint, and grew into a specialty distribution platform 
generating more than $1 billion of annual revenue. Together, these 
acquisitions expanded FloWorks' product and service offering, 
diversified its end markets, enhanced its margin profile, broadened its 
geographic footprint, and strengthened customer and supplier 
relationships. Beyond acquisitions, Wynnchurch partnered with management 
to drive operational improvements across supply chain and commercial 
excellence. 
 
 
   Greg Gleason, Managing Partner at Wynnchurch, stated, "FloWorks 
represented an opportunity to build a leading specialty distribution 
platform focused on engineered flow control products and technical 
solutions. We executed a strategy combining strategic acquisitions with 
operational value creation and commercial excellence that strengthened 
the business and positioned FloWorks for continued long-term growth. We 
thank Scott Jackson and the entire FloWorks team for their dedication 
and partnership." 
 
 
   "In partnership with management, we made significant investments in the 
commercial organization and technology infrastructure that unlocked 
meaningful pricing and cross-selling opportunities. FloWorks is well 
positioned for continued growth, and we are confident the business is 
poised for long-term success," stated Kevin Hanley, Principal at 
Wynnchurch. 
 
 
   "Wynnchurch has been a valuable partner, providing the resources, 
expertise, and strategic support that helped us scale the business and 
strengthen our platform," stated Scott Jackson, CEO of FloWorks. "I am 
grateful for our successful partnership with Wynnchurch, proud of what 
our team has accomplished, and excited to join Ferguson alongside the 
entire FloWorks team as we continue building on that momentum." 
 
 
   Wynnchurch also appreciates the partnership and support of Clearlake 
Capital Group, L.P., which retained a minority ownership interest 
following the Company's sale to Wynnchurch in 2023. 
 
 
   Jefferies LLC served as lead financial advisor to FloWorks, and Solomon 
Partners also served as financial advisor. Foley & Lardner LLP served as 
legal advisor to Wynnchurch and FloWorks. 
 
 
   About FloWorks: 
 
 
   Headquartered in Houston, Texas, FloWorks is a leading specialty 
distributor of critical flow control products and provider of tailored 
technical solutions for MRO-focused applications. The Company serves 
customers across chemicals, downstream refining & renewables, high 
purity & sanitary, and other industrial end markets. FloWorks' product 
categories include valves & automation, corrosion resistant flow control, 
rotating equipment, flanges, filters & purifiers, and instrumentation. 
For more information, please visit: www .gofloworks .com. 
 
 
   About Wynnchurch Capital: 
 
 
   Wynnchurch Capital, L.P., headquartered in the Chicago suburb of 
Rosemont, Illinois, with an affiliate in Canada, is a leading middle 
market private equity investment firm that has been investing in 
industrial businesses for more than 25 years. Wynnchurch is currently 
investing out of its sixth private equity fund and manages approximately 
$9.1 billion of assets under management. The firm's strategy is to 
partner with middle market companies in the United States and Canada 
that possess the potential for substantial growth and profit 
improvement. Wynnchurch specializes in recapitalizations, growth capital, 
management buyouts, corporate carve-outs, and restructurings. Recent 
exits include the sale of Labrie Environmental Group to Hiab Corporation 
(Nasdaq Helsinki: HIAB) in a transaction valued at approximately $1.035 
billion. Recent investments include MSHS Pacific Power Group, Sterno, 
NABRICO Marine Products, Charter Industries, and Astro Shapes. 
 
 
   For more information, please visit: www.wynnchurch .com or follow us on 
LinkedIn. 
 
 
 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260713447838/en/

 
 
    CONTACT: 
   For new investment opportunities, please contact: 
 
   Mike Teplitsky 
 
   Partner 
 
 
   mteplitsky@wynnchurch.com 
 
   Scott Fitch 
 
   Partner 
 
 
   sfitch@wynnchurch.com 
 
 
 
 
 
 

(END) Dow Jones Newswires

July 13, 2026 11:00 ET