Silicon Valley/Hamburg/Muscat - US-based Flowco Holdings Inc. has completed the acquisition of Lifting Solutions Energy Services Inc. for approximately USD 113 million. The transaction expands Flowco's portfolio in artificial lift systems and strengthens the company's position in the Canadian and international oil and gas market.

An international CMS team led by Dr. Eckart Gottschalk advised Flowco on various aspects of the transaction, including legal due diligence and post-closing corporate governance matters relating to Lifting Solutions' branch in Oman. CMS worked closely with US law firm Troutman Pepper Locke LLP, which also acted as legal counsel to Flowco on the acquisition.

Founded in 2014 and headquartered in Edmonton, Alberta, Lifting Solutions provides artificial lift technologies to oil and gas companies in Canada, the United States, the Middle East and other international markets. Its portfolio includes continuous rod systems, proprietary rod coatings and progressing cavity pump technologies designed to increase operational efficiency, extend equipment life and reduce maintenance costs.

The acquisition complements Flowco's existing production optimisation business and broadens the company's offering for oil and gas wells across their entire operating life cycle. It also extends Flowco's geographic reach and creates opportunities to offer complementary technologies to the customer bases of both companies.

CMS in Germany
Dr. Eckart Gottschalk, Partner
Tjorben Drawe Thölke, Senior Associate (both Corporate/M&A)

CMS in Oman
Ali Al Juma, Partner
Bassam Al Raisi, Senior Associate
Sara Al Hadhrami, Trainee Lawyer
Ali Al Lawati, Trainee Lawyer

This text was automatically translated from the German original.