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Press release content from PR Newswire. The AP news staff was not involved in its creation.
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Press release content from PR Newswire. The AP news staff was not involved in its creation.

Clearlake Capital-Backed FloWorks Acquires netMercury

June 29, 2022 GMT
floworkspvf.com (PRNewsfoto/Clearlake Capital Group, L.P.)
floworkspvf.com (PRNewsfoto/Clearlake Capital Group, L.P.)
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floworkspvf.com (PRNewsfoto/Clearlake Capital Group, L.P.)
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floworkspvf.com (PRNewsfoto/Clearlake Capital Group, L.P.)

Acquisition of critical parts and services distributor enhances FloWorks’ product suite and extends value proposition in attractive growth sectors

HOUSTON and SANTA MONICA, Calif., June 29, 2022 /PRNewswire/ -- FloWorks International LLC (“FloWorks”), a specialty flow control distribution platform backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), today announced it has acquired netMercury (“netMercury” or the “Company”), a specialty parts and services distributor. Financial terms of the transaction were not disclosed.

Founded in 2000, netMercury is a distributor of critical parts and services to the global integrated circuit fabrication and technology industries with three locations in Dallas, Austin, and Phoenix. The Company’s family of products includes system controls, temperature controls, high purity valves and fittings, fluid pumps, liquid flow controls, cleanroom equipment, consumables, vacuum pumps, and wafer process equipment, among others. netMercury also provides project management, including repair programs for equipment and components, custom kitting services for maintenance, and automated supply chain management replenishment services.

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Together with netMercury, FloWorks will have over 45 branches globally, all strategically located in key markets to support customers focused on the chemical, sanitary, utility, refining, integrated circuit fabrication, microelectronics, life sciences, food & beverage, agriculture, and general industrial end markets.

“I am excited to welcome netMercury to the FloWorks platform as we continue to execute on 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 both netMercury’s and FloWorks’ strong history in the integrated circuit fabrication and broader technology end markets to accelerate our compelling growth plans. We look forward to partnering with Terry and his team to build on netMercury’s significant momentum, while continuing our shared ‘customers first’ focus.”

“These two companies share a passion for providing customers with technical solutions and partnering with industry leading manufacturers, while building collaborative teams offering high touch local sales support and service,” said Terry Hollingshead, President of netMercury. “We are confident that this transaction will provide our customers with access to greater resources while offering the same attention to detail, ingenuity, and sense of urgency in providing state of the art solutions to challenging problems. The future is bright for the netMercury team and our suppliers.”

About FloWorks

FloWorks is a holding company of specialty flow control distribution providers with brands including Sunbelt Supply, SemiTorr Group, Oliver Equipment Company, Triple S, Major Inc., Genesis Systems Inc., and National Valve. The company is a specialty distributor of industrial flow control products and an expert provider of tailored technical solutions for processing applications in the industrial markets. FloWorks operates over 45 facilities worldwide. More information is available at www.gofloworks.com.

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About netMercury

netMercury is a critical parts, materials, equipment, repairs, and value-added services distributor with over 30 years of experience supporting the global integrated circuit fabrication and high-technology industries. Offering a highly flexible business model, netMercury provides supply chain managers, empowered sourcing agents, distributors, and manufacturers’ representatives, allowing netMercury to provide a broad range of products and services. More information is available at www.netmercury.net.

About Clearlake

Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin, Ireland. More information is available at www.clearlake.com and on Twitter @Clearlake.

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Media Contacts:

Elizabeth Hawkins (FloWorks)
Elizabeth.Hawkins@gofloworks.com
713.948.8809

Jennifer Hurson (Clearlake)
jhurson@lambert.com
845.507.0571

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SOURCE FloWorks and Clearlake Capital Group