Clearlake Capital Leads Recapitalization of FloWorks

Transaction Provides a Strong Balance Sheet and Significant
Operational Flexibility to Pursue Growth Strategy

HOUSTON & SANTA MONICA, Calif.–(BUSINESS WIRE)–Clearlake Capital Group, L.P. (together with its affiliates,
“Clearlake”) and FloWorks International, LLC (“FloWorks” or the
“Company”) today announced that Clearlake has led the successful
recapitalization of FloWorks in partnership with the Company’s existing
financial sponsors, led by TowerBrook Capital Partners L.P., the
Company’s management team, and other stakeholders. Terms of the
transaction were not disclosed.

Headquartered in Houston, Texas, FloWorks is a leading specialty
industrial distributor of pipe, valves, and fittings (“PVF”) and related
technical solutions to the energy and industrial sectors. FloWorks has a
global platform with world-class distribution capabilities, operating 44
strategically located facilities across North America, Shanghai, China
and Jubail, Saudi Arabia. FloWorks’ award-winning family of brands
includes Sunbelt Supply Co. and Major Inc., world leaders in the supply
and distribution of manual and automated valve products and accessories;
Southwest Stainless & Alloy, the nation’s leading vendor of stainless
and alloy steel piping products, fittings, and flanges; J&J Alloys, a
distributor and manufacturer of nickel alloy fittings and flanges; and
J&J Bar Plus, the premier nickel and stainless alloy round bar
distributor for the Southwest and Gulf Coast regions of the United
States.

The Company’s two flagship distribution facilities in Texas, including
its 205,000 sq. ft. state-of-the-art distribution center and seven acre
pipe yard in Pearland, Texas and its 185,000 sq. ft. distribution center
in Pasadena, Texas, are open and fully operational after the events of
Hurricane Harvey.

“This is an exciting time to invest in FloWorks’ award-winning family of
brands as the Company continues to demonstrate a track record of
providing customers with the highest quality specialized PVF products
and services,” said José E. Feliciano, Managing Partner and Co-Founder,
Clearlake. “FloWorks can now leverage Clearlake’s substantial resources
and expertise in the Company’s core industrial and energy end markets to
propel its growth strategy.”

“We look forward to supporting the Company in its strategic growth
initiatives, including further strengthening its product and service
offerings and pursuing strategic acquisitions, all underpinned by the
Company’s unwavering focus on customer service,” added James Pade,
Principal, Clearlake.

The FloWorks family of brands have a 40+ year track record of serving
the refining, petrochemical, chemical, mining, and power end markets.
The Company stocks an inventory of more than 128,000 unique products
from over 1,900 vendors and serves more than 5,000 customers across
North America and internationally. The Company’s breadth of specialty
products and the attention to quality and accuracy offer a substantial
competitive advantage over FloWorks’ competitors.

“We are pleased to partner with the Clearlake team as we look to bolster
FloWorks’ position as North America’s leading supplier of specialty PVF
products,” said Frank Riddick, Chief Executive Officer, FloWorks. “This
transaction and our resulting strengthened financial position and
liquidity will enable us to continue our investment in strategic growth
initiatives and enhance our role as a critical link in our customers’
supply chains. Now more than ever, we remain committed to serving our
customers and prioritizing our culture of excellence and accountability.”

FLOWORKS INTERNATIONAL, LLC

FloWorks is a leading specialty supplier of pipe, valves, fittings and
related products and an expert provider of flexible technical solutions
to the energy and industrial sectors. Through our strategic locations in
North America, Asia and the Middle East, FloWorks delivers a broad
spectrum of valves and automation services along with specialty metal,
pipe, fittings, flanges and related products just-in-time. Our
significant inventory and close proximity to our customers allows us to
act as a critical link in their supply chain. For more information,
visit www.floworkspvf.com.

ABOUT CLEARLAKE CAPITAL GROUP, L.P.

Clearlake Capital Group, L.P. is a leading private investment firm
founded in 2006. With a sector-focused approach, the firm seeks to
partner with world-class management teams by providing patient,
long-term capital to dynamic businesses that can benefit from
Clearlake’s operational improvement approach, O.P.S.® The
firm’s core target sectors are industrials and energy; software and
technology-enabled services; and consumer. Clearlake currently has over
$3.5 billion of assets under management and its senior investment
principals have led or co-led over 90 investments. More information is
available at www.clearlake.com.

Contacts

FOR CLEARLAKE:
OWEN BLICKSILVER PUBLIC RELATIONS, INC.
Kristin
Celauro, 732-264-1131
[email protected]
or
Jennifer
Hurson, 845-507-0571
[email protected]
or
FOR
FLOWORKS:
Maureen Pendleton, 713-669-4383
[email protected]