FloWorks Acquires Fluid Handling Distributor SemiTorr

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SANTA MONICA, Calif. — FloWorks, a specialty flow control distribution platform backed by Clearlake Capital Group, LP, announced Jan. 6 that it has acquired SemiTorr Group, a specialty distributor of fluid handling systems and components. Financial terms of the transaction were not disclosed.

Founded in 1988 and based in Tualatin, OR, SemiTorr offers products and services to the high purity, sanitary and general industrial sectors. The Company’s product family includes process equipment, pumps, tubing, hoses, fittings, valves, filtration systems and instruments, among others. SemiTorr provides end-to-end project management, including preliminary specification, engineering, design, implementation, and supply chain management. SemiTorr has made several acquisitions over the past seven years, expanding to 11 distribution centers across the United States in Oregon, California, Arizona, Utah, New Mexico, Colorado, Texas, Virginia, Pennsylvania and New York.

With SemiTorr, FloWorks will have more than 40 branch offices worldwide, all strategically located in key markets to support customers focused on the end markets of chemical, sanitary, utility, semiconductor refining, microelectronics, life sciences, food and beverage and general industry.

SemiTorr and its group of companies will operate as a stand-alone division within FloWorks and retain their well-respected brand. Kevin Waddell and his management team will continue to manage SemiTorr with support provided jointly by the SemiTorr and FloWorks shared services teams.

“I am delighted to welcome SemiTorr to the FloWorks platform as we continue to execute our organic and M&A-driven growth strategies,” said Scott Jackson, President and CEO of FloWorks. “This combination provides an exciting opportunity to build on SemiTorr’s strong history in the high-purity and sanitary end markets, while leveraging FloWorks’ deep experience in highly technical industrial markets, to accelerate our combined growth. and our cross-selling within our collective verticals. We look forward to partnering with Kevin and his team to build on the significant momentum of SemiTorr, while pursuing our common “customers first” goal.

“These two companies share a passion for providing customers with technical solutions and partnering with industry-leading manufacturers, while building collaborative teams that provide top-notch local sales support and service,” said Mr Waddell. “We are confident that this transaction will provide our clients with access to greater resources while delivering the same attention to detail and ingenuity in delivering flow solutions to challenging client issues. The future is bright for the SemiTorr team and our suppliers.

“We have long admired SemiTorr and what it would bring to our investment in FloWorks, and we couldn’t be more excited to partner with the company and its team to build FloWorks into one of the biggest platforms specialized flow control distribution companies,” said José. E. Feliciano, co-founder and managing partner, and James Pade, partner and managing director, of Clearlake. “FloWorks and SemiTorr have completed and integrated more than 10 acquisitions over the past few years, and we are excited to continue executing our buy and build thesis through our OPS game book.

RBC Capital Markets, LLC, Jefferies, UBS Investment Bank, Wells Fargo, BNP Paribas and Audax Private Debt provided debt financing to support the transaction. Vinson & Elkins and Kirkland & Ellis provided legal advice to Clearlake and FloWorks.

FloWorks is a holding company of specialty flow control distribution suppliers with brands such as Sunbelt Supply, Oliver Equipment Company, Triple S, Major Inc., Genesis Systems Inc. and National Valve. The company is a specialist distributor of industrial flow control products and an expert supplier of bespoke engineered solutions for process applications in industrial markets. FloWorks operates more than 40 facilities worldwide.

SemiTorr Group is a sales and distribution company of gas and fluid handling systems and components. Focused on three major market segments – high purity, sanitary and industrial – its products include process equipment, pumps, tubing, hoses, fittings, valves, filtration and instrumentation. Based in Tualatin, OR, SemiTorr has 11 fulfillment centers across the United States. More information is available at www.semitorrinc.com.

Clearlake Capital Group, LP is an investment firm founded in 2006 that operates integrated businesses in private equity, credit and other related strategies. With a sector-based approach, the company seeks to partner with experienced management teams by providing patient, long-term capital to dynamic companies that can benefit from Clearlake’s operational improvement approach, OPS. The company’s main target sectors are industry, technology and consumer. Clearlake currently has over $55 billion in assets under management and its senior investment managers have led or co-led over 300 investments. The company has offices in Santa Monica and Dallas.

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