Flowco Holdings Completes First Acquisition, Buys $71M in Gas Lift, Vapor Recovery Systems from Archrock

Flowco Holdings Inc. (NYSE:FLOC) is one of the best IPO stocks to buy according to Wall Street analysts. On August 5, Flowco Holdings announced the completion of its acquisition of high-pressure gas lift/HPGL and vapor recovery unit/VRU systems from Archrock.

The deal, valued at ~$71 million in cash, included 155 HPGL and VRU systems and other related assets. The strategic acquisition is Flowco’s first M&A transaction and is expected to be accretive to key financial metrics.

The acquisition strengthens Flowco’s leadership in HPGL and vapor recovery technologies and enhances its presence in the Permian Basin. The company’s fleet is now expanded with electric motor drive systems, which better position it to serve operators focused on electrification and emissions reduction.

Flowco Holdings Inc. (NYSE:FLOC) provides production optimization, artificial lift, and methane abatement solutions for the oil & natural gas industry in the US. It has 2 segments: Production Solutions and Natural Gas Technologies.

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Disclosure: None. This article is originally published at Insider Monkey.