Bertram Buys Flow Control from AEA

Bertram Capital has acquired Flow Control Group, a distributor of process control and fluid handling products, from AEA investors.

Flow Control Group (FCG) has more than 10,000 customers and 47 regional distribution and service centers located throughout the United States and Canada. The company was founded in 2014 and has completed 18 acquisitions since its inception. AEA invested in the company in February 2015.

The company’s senior management team, now with the support of Bertram, will continue to pursue its buy-and-build strategy in the process control and fluid handling sectors as well as look to organic opportunities to expand its product portfolio and geographic footprint. FCG has approximately 500 employees and is headquartered in Charlotte, NC (www.flowcontrolgroup.com).

“Flow Control Group serves a key role in providing mission-critical, complementary products enabling customers to operate their manufacturing facilities efficiently and effectively,” said Jeff Drazan, a managing partner of Bertram Capital. “Flow Control Group has successfully executed a buy-and-build strategy to acquire the best regional distributors in the industry. In addition to partnering with our industrials team, led by Kevin Yamashita, Tim Heston and Ray Kataria, Flow Control Group will work closely with Bertram Lab’s IT services team to support its growth initiatives.”

“As we considered potential partners, Bertram’s differentiated value creation approach and past success in implementing buy-and-build strategies to create industry-leading companies distinguished the firm,” said David Patterson, CEO of Flow Control Group. “Bertram’s experience in the flow control and fluid handling industry, and distribution market segments, coupled with a shared vision for the opportunities to expand Flow Control Group’s business, made Bertram our partner of choice.”

Bertram invests in middle-market business services, consumer, industrial and manufacturing companies that have revenues from $25 million to $250 million and EBITDA of $5 million to $30 million. The firm is headquartered south of San Francisco in San Mateo, CA (www.bertramcapital.com).

The buy of FCG is Bertram’s seventh platform acquisition for its third fund which closed in February 2018 with $500 million of capital commitments.

© 2019 Private Equity Professional | January 29, 2019

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