Flowco Holdings (FLOC.US) files for US IPO, seeking to raise $300M

Flowco Holdings (FLOC.US) filed a preliminary prospectus with the U.S. Securities and Exchange Commission on Friday to raise $300 million in an initial public offering, according to a person familiar with the matter.

The Houston, Texas-based company was formed this year through the merger of Flowco Production Solutions, Estis Compression and Flogistix. It claims to be a leading provider of production optimization, artificial lift and methane reduction solutions for the oil and gas industry. Its products and services enable energy producers to maximize profitability and the life of active wells. Its core products include high-pressure gas lift, conventional gas lift, plunger lift and steam recovery unit solutions, covered by its proprietary digital system. Its products and services are designed to optimize production and offset the natural decline in production that wells experience over time.

Flowco was founded in 1996. Its largest business, Estis, generated $425 million in sales in the 12 months ended September 30, 2024. The company plans to list on the New York Stock Exchange under the ticker FLOC. Flowco Holdings filed a confidential filing on August 30, 2024. Morgan Stanley, Jefferies, Piper Sandler, Evercore ISI, BMO Capital Markets and Pickering Energy Partners are joint bookrunners on the deal. The company has not disclosed pricing terms.