# Flowco buys Lifting Solutions for mature-well lift

By MarketScale Newsroom · Published 2026-10-08 · Energy on MarketScale
Canonical: https://www.marketscale.com/industries/energy/flowco-pays-113-million-to-add-continuous-rod-and-pcp-lift-for-aging-wells

> Flowco closed its purchase of Lifting Solutions, adding continuous rod and PCP technologies to its artificial lift portfolio.

## Key points

- The sellers can earn up to C$10 million in contingent consideration based on Lifting Solutions’ 2027 financial performance.
- Lifting Solutions' proprietary rod coatings and PCP technologies are designed to extend run times and reduce workover and lifting costs.
- Flowco says the deal creates opportunities to bring a broader set of technologies to customers across both businesses.

Hart Energy's Michelle Thompson framed the closing around broader later-life well applications, and Flowco's own announcement lists wider participation in those applications as the first reason for the deal.

## Two lift technologies for wells past their peak

Lifting Solutions, founded in 2014, is a vertically integrated manufacturer. Its two core lines are continuous rod, which Flowco's announcement describes as an alternative to conventional rod lift strings, and progressing cavity pumps. The company also develops its own rod coatings and PCP technology in-house, and it designs both to extend equipment run times and cut workover and lifting costs.

As wells mature, citybiz noted in its coverage of the deal, choosing and tuning the lift system can matter more and more to operating costs and to how long an asset stays economic.

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## What Flowco paid and how it paid

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Flowco paid for the deal with borrowings under its asset-based lending facility. It bought the business on a cash-free, debt-free basis and expects the acquisition to add to both earnings and free cash flow per share.

The sellers can also earn up to C$10 million in contingent consideration based on Lifting Solutions' 2027 financial performance, which ties them to near-term results. David Labonte, Lifting Solutions' founder and CEO, said in the announcement that he expects the two complementary businesses to grow together.

## Canada and the Middle East feel it first

Flowco described the acquisition as a ready-made platform: scaled Canadian operations and an established international customer base it plans to use for growth in Canada, the Middle East and other markets. Joe Bob Edwards, Flowco's president and CEO, said the deal widens the company's reach and its ability to supply the right lift solution "throughout the life of the well."

The sales plan runs both ways. Flowco intends to bring its technologies to Lifting Solutions customers and to offer continuous rod and PCP to its own, using the two companies' respective geographic footprints. Producers who buy from only one of the two today should expect to hear about the other's catalog. Operators with mature wells in Canada or the Middle East, where Lifting Solutions already serves customers, could see the most change.

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There is a limit to how much can be read into the deal yet. Flowco gave no specific earnings contribution, synergy target or timeline for the financial benefits, so the accretion expectation tells us which direction Flowco expects, not how far or how fast.

## Sources

- [Flowco expands artificial lift portfolio with $113 million ...](https://www.worldoil.com/news/2026/10/2/flowco-expands-artificial-lift-portfolio-with-113-million-lifting-solutions-acquisition/) (World Oil)
- [Flowco Closes $113MM Lifting Solutions Acquisition - Hart Energy](https://www.hartenergy.com/technology-and-innovation/artificial-lift/he-flowco-acquires-lifting-solutions-ofs-tech/) (Hart Energy)
- [Flowco Broadens Production Optimization Portfolio Through ...](https://ir.flowco-inc.com/news-events/news/news-details/2026/Flowco-Broadens-Production-Optimization-Portfolio-Through-Strategic-Acquisition-of-Lifting-Solutions/default.aspx)
- [Flowco Acquires Lifting Solutions for $113 Million to Expand Artificial Lift ...](https://www.citybiz.co/article/913220/flowco-acquires-lifting-solutions-for-113-million-to-expand-artificial-lift-business/)

Tags: Flowco Holdings, Lifting Solutions Energy Services, artificial lift, progressing cavity pumps, continuous rod, oil and gas production, mature wells, mergers and acquisitions, oilfield services, Canada, Middle East, procurement, production operations

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