Genesis Park Joins Global Energy Capital and White Deer Energy to File for Flowco Public Offering

Rhea-AI Summary

Flowco (NYSE: FLOC), formed through the merger of Flowco Production Solutions, Estis Compression, and Flogistix, has successfully completed its initial public offering. The company, backed by Genesis Park, Global Energy Capital, and White Deer Energy, is a comprehensive provider of production optimization and artificial lift solutions in the oil and gas industry.

Headquartered in Houston, Texas, Flowco employs approximately 1,300 people and operates across all major domestic oil and gas basins, with expanding international operations. The company serves 22 of the top 25 U.S. producers, offering services including high pressure gas lift, traditional gas lift, plunger lift, and vapor recovery solutions.

This marks Genesis Park's second successful public offering from its Genesis Park II, LP portfolio, following Redwire (NYSE:RDW). Jonathan Fairbanks will serve as Board Chairman, with Paul Hobby joining the Board of Directors.

Positive

• Strong market position serving 22 of top 25 U.S. producers
• Comprehensive service offering across all major U.S. oil and gas basins
• Significant scale with 1,300 employees and international expansion
• Backed by three established investment firms

Negative

• None.

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HOUSTON, Jan. 17, 2025 /PRNewswire/ -- Genesis Park announced today that its portfolio company Flowco, launched a successful initial public offering (NYSE: FLOC). Flowco was formed through the merger of Flowco Production Solutions, Estis Compression and Flogistix. Genesis Park invested in Estis Compression in 2019 alongside Global Energy Capital ("GEC").

Genesis Park announced that its portfolio company Flowco, launched a successful initial public offering (NYSE: FLOC).

Flowco is one of the most comprehensive providers of production optimization and artificial lift solutions, including high pressure gas lift, traditional gas lift, plunger lift, and vapor recovery. Headquartered in Houston, Texas with approximately 1,300 employees, Flowco operates in every domestic major oil and gas basin, with a growing international presence. Flowco serves 22 of the top 25 producers in the United States.

Three local investment firms, GEC, White Deer Energy and Genesis Park cooperated to accomplish this powerful combination. Jonathan Fairbanks will Chair the Board.

"The combined business creates an array of well optimization capabilities at every point in the production lifecycle," said Paul Hobby, Managing Partner of Genesis Park. Hobby, who has joined the Board of Directors of Flowco, continued "Bringing the three companies together maximizes production and uptime while minimizing fugitive vapor releases. Flowco represents an important step forward in improving oilfield technologies."

Flowco represents Genesis Park's second successful public offering from the Genesis Park II, LP. Portfolio; Redwire (NYSE:RDW) being the first.

About Genesis Park

Genesis Park is a Houston-based debt and equity investment platform. Its most recent investment fund, GP Capital Partners II, LP, is licensed as a Small Business Investment Company ("SBIC") by the U.S. Small Business Administration. Genesis Park supports growth and later stage lower middle market businesses through flexible debt and equity capital solutions and strategic guidance. Genesis Park targets companies with proven business models and seasoned management teams. For more information, visit www.genesis-park.com.

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SOURCE Genesis Park

FAQ

What companies merged to form Flowco (NYSE: FLOC)?

Flowco was formed through the merger of three companies: Flowco Production Solutions, Estis Compression, and Flogistix.

How many major U.S. producers does Flowco (FLOC) serve?

Flowco serves 22 of the top 25 producers in the United States.

What services does Flowco (NYSE: FLOC) provide in the oil and gas industry?

Flowco provides production optimization and artificial lift solutions, including high pressure gas lift, traditional gas lift, plunger lift, and vapor recovery services.

Which investment firms backed Flowco's (FLOC) IPO in January 2025?

Genesis Park, Global Energy Capital (GEC), and White Deer Energy backed Flowco's IPO.

How many employees does Flowco (NYSE: FLOC) have as of its IPO?

Flowco has approximately 1,300 employees as of its IPO.