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Quorum Software Acquires Coastal Flow Measurement, Inc. and Flow-Cal, Inc.
Start Date: 2/26/2019
Start Time:
End Date: 2/26/2019
End Time:

 

P.O. Box 58965 Houston, TX
77258-8965
Phone: 281-282-0622
Fax: 281-282-0792


 

  FOR IMMEDIATE RELEASE
8 A.M. CT, February 26, 2019


 
Quorum Software Acquires Coastal Flow Measurement, Inc. and Flow-Cal, Inc.
Leader in Digital Transformation for Oil and Gas Enhances Software and Services Portfolio with Acquisition of the Industry Standard in Hydrocarbon Measurement Data Management

HOUSTON-- Quorum Software (Quorum), a Thoma Bravo portfolio company and the leader in digital transformation for the oil and gas industry, today announced that it has entered into a definitive agreement to acquire Houston-based Coastal Flow Measurement, Inc. (Coastal Flow), a family of energy measurement services and software companies, including its information services and technologies subsidiary, Flow-Cal, Inc. (Flow-Cal). The acquisition expands and strengthens Quorum’s industry-leading oil and gas software and services portfolio with the long-time leader in measurement data management for natural gas and petroleum liquids.

"Flow-Cal technology is the industry standard and their employees, as well as the talented employees of Coastal Flow, are valued additions to our team," said Gene Austin, chief executive officer of Quorum. "In addition to deep industry knowledge, our organizations share longstanding relationships with customers and partners, and we are eager to explore all of the ways that we can together provide best-in-class products and services to energy industry participants."

Coastal Flow’s family of companies provides gas and liquids measurement, analytical services and software resources to the energy industry on a global scale. Collectively, Coastal Flow serves oil and gas companies in all segments of the industry including producers, midstream operators, pipeline companies, petrochemical plants, gatherers, refineries, processing plants and utilities.

"With over five decades of service to the oil and gas industry, our relationships with both small independent producers and fully integrated majors within the energy industry are well established," said the chairman of the board for Coastal Flow, Steve Whitman. Coastal Flow president and board member, Mark Fillman, adds: "As the energy industry continues to develop the digital oilfield, our employees and customers will recognize the benefits of a Quorum and Coastal Flow combination to effectively deliver an integrated and comprehensive business process automation solution."

A subsidiary of Coastal Flow, Flow-Cal is a gas and liquid measurement software company with products purpose-built for the hydrocarbon measurement industry. Flow-Cal software provides operational efficiencies by gathering, validating, storing and distributing a company’s volume and energy data.

"For over 20 years, Flow-Cal has built a global brand synonymous with hydrocarbon measurement," said Mike Squyres, president of Flow-Cal. "By combining our industry-leading measurement products with Quorum’s robust suite of business applications we can offer our customers an integrated solution that enhances operational efficiencies and improves transparency across the industry."

Quorum provides integrated solutions for its customers’ core processing demands across the upstream, midstream and downstream segments of the oil and gas value chain. The company’s portfolio of innovative software addresses a broad spectrum of energy companies’ needs, from operations to accounting, plant management, and financial forecasting. Quorum is the preferred software provider to over 75 percent of the largest oil and gas producers in the United States, and its technology powers 80,000 miles of pipeline and accounts for 80% of all natural gas processed in the U.S.

Credit Suisse Securities (USA) LLC and Macquarie Capital are serving as financial advisors to Quorum, and Kirkland & Ellis LLP is serving as its legal advisor. PPHB Securities, LP is serving as financial advisor to Coastal Flow, and Locke Lord LLP is serving as its legal advisor. Financing for the transaction is being provided by Credit Suisse, Macquarie Capital, PSP Investments Credit USA LLC and Angel Island Capital. Financial details of the acquisition were not disclosed.

About Quorum Software
Quorum offers an industry-leading portfolio of finance, operations and accounting software that empowers energy companies of all sizes to conquer their most complex business challenges. From the field to the back office, defying complexity is coded in our DNA and our software. This unmatched experience is why Quorum is the choice of eight of the largest public energy companies worldwide, 75 percent of LNG exporters throughout North America and 80 percent of all natural gas processed in the United States. Designed for digital transformation, the myQuorum software platform delivers open standards, mobile-first design and cloud technologies to empower innovation at the speed of thought. At Quorum, we’re helping visionary leaders transform their business, and the energy industry, for a digital world. For more information, visit quorumsoftware.com.

About Coastal Flow
The Houston, Texas-based Coastal Flow Measurement family of companies continues to grow dramatically and now ranks among the largest energy measurement services and software providers in the world. Its operating companies include: Coastal Flow Liquid Measurement, the industry leader in custody transfer meter proving and small volume prover services; Flow-Cal®, the international leader in advanced software and services for hydrocarbon flow measurement; Coastal Flow Gas Measurement, including its Energy Labs, Field Services, and Production iMeasurement® (PiMTM) Services, the recognized experts in seamlessly providing value-added hydrocarbon measurement services from field operations to final accounting; and BirdDogTM Information Systems, offering advanced remote data collection, processing, and web-based delivery. Learn more at coastalflow.com.

About Flow-Cal
Flow-Cal, Inc., a Houston-based software developer, is the industry leader in measurement data management for natural gas and petroleum liquids. Flow-Cal’s software is used throughout the industry to validate, recalculate, store and report measurement data from field devices, and link that information to users and stakeholders throughout an organization. Flow-Cal’s full line of measurement software applications ranges from simple, inexpensive data management and reporting programs (designed for smaller companies) to enterprise-wide applications that are utilized by Fortune 500 companies. Learn more at flowcal.com.

About Thoma Bravo, LLC
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $30 billion in capital commitments, Thoma Bravo partners with a company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. Representative past and present portfolio companies include industry leaders such as ABC Financial, Blue Coat Systems, Deltek, Digital Insight, Global Healthcare Exchange, Hyland Software, Imprivata, iPipeline, PowerPlan, Qlik, Riverbed, SailPoint, SolarWinds, SonicWall, Sparta Systems and TravelClick. The firm has offices in San Francisco and Chicago. For more information, visit thomabravo.com.

 

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Coastal Flow Measurement Companies
P.O. Box 58965 , Houston, TX, 77258-8965
Phone: 800.231.9741; Fax: 281.282.0792