FloWorks International LLC (FloWorks), a provider of valves and automation services along with specialty metal, pipe, fittings, flanges and related products, recently announced the sale of its Garland, Texas-based plate & sheet business to CL Alloys-Dallas LLC. The transaction closed on June 30, 2016. The location had sales of approximately USD $10 million for fiscal year 2015.
The Garland plate and sheet operations, which dealt in alloys including stainless, nickel, chrome, aluminum and carbon, were the remaining assets of the legacy Fabrication and Distribution Services (F&DS) business, which FloWorks divested in 2014. This sale completes FloWorks exit from locations dedicated to the distribution of flat products and metal services.
Frank Riddick, FloWorks Chief Executive Officer, stated, “The divestiture continues our previously announced efforts of focusing and growing our valve and automation and specialty pipes, fittings and flanges businesses. The team at our Garland location has performed extremely well given the exit from our F&DS business and challenging market conditions for their products and services. The transaction will enable the business and the team to continue to serve customers through the transaction with CL Alloys, a well-regarded supplier.”