ROSEMONT, Ill.--(BUSINESS WIRE)--July 13, 2026--
Wynnchurch Capital, L.P. ("Wynnchurch"), a leading middle market private
equity firm, today announced it has entered into a definitive agreement
to sell FWI Holdings, Inc. ("FloWorks" or the "Company") to Ferguson
Enterprises, Inc. (NYSE: FERG; LSE: FERG). The cash transaction values
FloWorks at an enterprise value of approximately $1.6 billion.
Headquartered in Houston, Texas, FloWorks is a leading specialty
distributor of critical flow control products and provider of tailored
technical solutions for MRO-focused applications, serving customers
across a broad range of critical industrial end markets.
Wynnchurch acquired FloWorks in January 2023. Under Wynnchurch's
ownership, FloWorks completed seven strategic add-on acquisitions,
expanded its footprint, and grew into a specialty distribution platform
generating more than $1 billion of annual revenue. Together, these
acquisitions expanded FloWorks' product and service offering,
diversified its end markets, enhanced its margin profile, broadened its
geographic footprint, and strengthened customer and supplier
relationships. Beyond acquisitions, Wynnchurch partnered with management
to drive operational improvements across supply chain and commercial
excellence.
Greg Gleason, Managing Partner at Wynnchurch, stated, "FloWorks
represented an opportunity to build a leading specialty distribution
platform focused on engineered flow control products and technical
solutions. We executed a strategy combining strategic acquisitions with
operational value creation and commercial excellence that strengthened
the business and positioned FloWorks for continued long-term growth. We
thank Scott Jackson and the entire FloWorks team for their dedication
and partnership."
"In partnership with management, we made significant investments in the
commercial organization and technology infrastructure that unlocked
meaningful pricing and cross-selling opportunities. FloWorks is well
positioned for continued growth, and we are confident the business is
poised for long-term success," stated Kevin Hanley, Principal at
Wynnchurch.
"Wynnchurch has been a valuable partner, providing the resources,
expertise, and strategic support that helped us scale the business and
strengthen our platform," stated Scott Jackson, CEO of FloWorks. "I am
grateful for our successful partnership with Wynnchurch, proud of what
our team has accomplished, and excited to join Ferguson alongside the
entire FloWorks team as we continue building on that momentum."
Wynnchurch also appreciates the partnership and support of Clearlake
Capital Group, L.P., which retained a minority ownership interest
following the Company's sale to Wynnchurch in 2023.
Jefferies LLC served as lead financial advisor to FloWorks, and Solomon
Partners also served as financial advisor. Foley & Lardner LLP served as
legal advisor to Wynnchurch and FloWorks.
About FloWorks:
Headquartered in Houston, Texas, FloWorks is a leading specialty
distributor of critical flow control products and provider of tailored
technical solutions for MRO-focused applications. The Company serves
customers across chemicals, downstream refining & renewables, high
purity & sanitary, and other industrial end markets. FloWorks' product
categories include valves & automation, corrosion resistant flow control,
rotating equipment, flanges, filters & purifiers, and instrumentation.
For more information, please visit: www .gofloworks .com.
About Wynnchurch Capital:
Wynnchurch Capital, L.P., headquartered in the Chicago suburb of
Rosemont, Illinois, with an affiliate in Canada, is a leading middle
market private equity investment firm that has been investing in
industrial businesses for more than 25 years. Wynnchurch is currently
investing out of its sixth private equity fund and manages approximately
$9.1 billion of assets under management. The firm's strategy is to
partner with middle market companies in the United States and Canada
that possess the potential for substantial growth and profit
improvement. Wynnchurch specializes in recapitalizations, growth capital,
management buyouts, corporate carve-outs, and restructurings. Recent
exits include the sale of Labrie Environmental Group to Hiab Corporation
(Nasdaq Helsinki: HIAB) in a transaction valued at approximately $1.035
billion. Recent investments include MSHS Pacific Power Group, Sterno,
NABRICO Marine Products, Charter Industries, and Astro Shapes.
For more information, please visit: www.wynnchurch .com or follow us on
LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260713447838/en/
CONTACT:
For new investment opportunities, please contact:
Mike Teplitsky
Partner
mteplitsky@wynnchurch.com
Scott Fitch
Partner
sfitch@wynnchurch.com
(END) Dow Jones Newswires
July 13, 2026 11:00 ET
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