KKR, a New York-based global investment firm, on Wednesday announced it has agreed to acquire Flow Control Group, a Charlotte, North Carolina-based distributor of flow control and industrial automation products, from Bertram Capital. Financial terms of the deal weren’t disclosed.
Flow Control Group serves more than 10,000 customers and 2,000 suppliers in North America for technical flow control and industrial automation products and related services. The company’s product categories include air equipment, pumps, valves, process control and industrial automation.
“Flow Control Group stands out for their proven ability to be a strategic partner and consultative, technical resource for customers’ critical flow control and industrial automation product needs,” said Josh Weisenbeck, a KKR partner who leads the firm’s industrials investment team. “We are excited to work together with David Patterson and the entire team at Flow Control Group to further expand the company’s reach, while remaining an excellent partner to their OEM suppliers and continuing to be a value-added team member for their customers.”
Added David Patterson, CEO of Flow Control Group: “We are thrilled to have the support of KKR as we continue to grow our reach across the flow control and industrial automation sectors while investing to better serve our customers and supplier partners.”
R.W. Baird and Hirschler served as advisers to Bertram Capital on the transaction, while Kirkland & Ellis and Deloitte served as advisers to KKR.
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