FCI Has Been Acquired by Westbrook
HOUSTON, October 31, 2023 – GulfStar Group ("GulfStar") is pleased to announce the acquisition of Forged Components Inc. (“FCI”) by Westbrook Energy Group (“Westbrook”), a portfolio company of SCF Partners Ltd. (“SCF Partners”). GulfStar served as the exclusive financial advisor to FCI throughout the transaction, which closed on August 11, 2023.
Founded in 1997, FCI is a vertically integrated provider of high-quality forged, heat treated, and machined pressure control connection products for the downstream, midstream, upstream, LNG, marine, aerospace, and defense markets. FCI’s product portfolio along with its forging and heat treat capability are highly complementary to Westbrook’s current offerings and will allow the combined platform to better serve a wider range of customers.
“I’m extremely proud of what we’ve accomplished with FCI over the last 26 years,” said Purav Patel, president of FCI. “The decision to join forces with Westbrook was driven by our shared vision to enhance our products and services to provide a better customer experience. Through this strategic move, we aim to leverage the strengths of both companies, combining our expertise, resources, and innovations to deliver unparalleled value to our combined customer base and explore new market opportunities.”
Westbrook is a globally integrated, industry-leading, domestic manufacturer of pressure control connection products located in Houston, Texas. Founded in the mid-1960’s, Westbrook’s mission has always been to provide exemplary service and a quality product. The company offers a wide line of fittings and flanges – servicing the downstream, natural gas distribution, LNG, midstream, upstream, and general industrial markets.
“We appreciated the opportunity to advise FCI throughout the sale process,” said Cliff Atherton, managing director of GulfStar. “Purav Patel and his team developed an integrated set of operating companies that offered outstanding engineered solutions for customers. The combination of FCI with Westbrook creates a vertically integrated market leader with world class manufacturing and forging capabilities that will provide comprehensive services and an expanded footprint across key markets.”
The GulfStar team was led by Managing Directors Cliff Atherton, Tom Hargrove, and Ben Stanton with support from Associate Luis Barrera and Analyst Alan Sheppard.
In addition, Adrienne Bond, partner at Frost Brown Todd LLC, served as legal counsel to FCI and Vinson & Elkins LLP served as legal counsel to Westbrook.
About SCF Partners
Founded in 1989, SCF Partners provides equity capital and strategic growth assistance to build and grow leading energy service, equipment and technology companies that operate throughout the world. SCF Partners has invested in more than 70 platform companies and made more than 400 additional acquisitions to develop 18 publicly listed energy service and equipment companies over its history. The firm is headquartered in Houston, Texas, and has offices in Singapore, Aberdeen and Australia.
About GulfStar Group
GulfStar is a leading middle market investment bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and strategic advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed more than 750 transactions in 38 states and 18 foreign countries across a variety of industries.