Ferguson to acquire FloWorks

Published by Ellie Brosnan, Editorial Assistant
Hydrocarbon Engineering, Tuesday, 14 July 2026 13:00

Ferguson Enterprises Inc. has announced that it has entered into a definitive agreement to acquire FWI Holdings, Inc. (FloWorks), an industrial distributor and service provider of highly technical valves and flow control solutions, from Wynnchurch Capital L.P.

The cash transaction values FloWorks at an enterprise value of approximately US$1.6 billion. Ferguson expects to realise significant revenue synergies as well as certain cost synergies from network optimisation, logistics, and technology. The total consideration represents an acquisition multiple of approximately 10 times LTM Adj. EBITDA, including expected synergies of approximately US$45 million. Ferguson expects to remain within its targeted net debt to adjusted EBITDA range of 1 - 2 times upon closing the transaction, as it continues to execute its capital allocation strategy.

FloWorks generated 2025 revenues of approximately US$1 billion. Based in Houston, US, the company holds a 65+ year legacy as a leading flow control distributor with more than 60 locations in the US and Canada serving highly technical industries including chemicals, refining, power generation, semiconductors, pharmaceuticals, and datacentres. The acquisition will expand Ferguson’s specialty industrial flow control platform, adding technical depth, attractive end market and product exposure, and significant recurring MRO-driven revenue.

“FloWorks strengthens our leading position in high-growth industrial end markets, while adding meaningful capabilities and geographic coverage which we can leverage across our non-residential customer groups,” added Kevin Murphy, CEO of Ferguson. "Its expert teams, technical capabilities, and strong OEM brands will further enhance our ability to provide essential water solutions for the specialised professional. We welcome its associates to Ferguson and look forward to our next chapter of growth together.”

"Joining Ferguson ensures our 65+ year legacy continues with a partner that shares our commitment to customer service and operational excellence," said Scott Jackson, CEO of FloWorks. "Ferguson's scaled platform and capabilities will empower our associates to better serve our customers. This marks an exciting next chapter in FloWorks' history and provides a great home for our associates."

The transaction is expected to close in the third 3Q26, subject to customary conditions and regulatory approvals.

Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/14072026/ferguson-to-acquire-floworks/

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