Flowco Holdings Inc. Expands Fleet with Acquisition of High-Pressure Gas Lift and Vapor Recovery Systems from Archrock
Reuters
Aug 05
Flowco Holdings Inc. Expands Fleet with Acquisition of High-Pressure Gas Lift and Vapor Recovery Systems from Archrock
Flowco Holdings Inc. has announced the completion of its acquisition of High-Pressure Gas Lift (HPGL) and Vapor Recovery Unit (VRU) systems from Archrock, Inc. This strategic move involves the purchase of 155 systems for approximately $71 million in cash, aimed at accelerating Flowco's growth in HPGL and Vapor Recovery. The acquisition also includes the addition of electric motor drive systems, which will expand Flowco's fleet and enhance its services for operators focused on electrification and emissions reduction. Joe Bob Edwards, President and CEO of Flowco, stated that this transaction aligns with the company's strategy to grow inorganically and emphasizes its commitment to production optimization at attractive valuations.
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