NOW completed the acquisition of Flex Flow from GR Energy Services for $90m.

NOW, a distributor to energy and industrial markets, completed the acquisition of Flex Flow, an industrial services provider, from GR Energy Services, a completion and production solutions company, for $90m. The deal includes the additional cash contingent consideration if certain profitability thresholds are achieved during the one-year period following the closing of the transaction. “This acquisition meets the criteria we have set for inorganic investment: it bolsters and further differentiates DistributionNOW in non-commoditized customer solutions, strengthens and broadens Process Solutions in the fluid handling space, enhances our offering in the midstream markets, and provides enhanced gross margins and EBITDA flow-through dynamics. I also believe the Flex Flow business will benefit from our DigitalNOW innovation investments. I am excited to introduce the customer-enticing complementary benefits this new venture provides," David Cherechinsky, NOW President and CEO.