Flow Control Group Achieves Employee Ownership Milestone

Since acquiring Flow Control Group (FCG) in 2021, KKR helped transform the company into a leading distribution platform, with revenue and EBITDA more than tripling during our ownership period. This growth was driven by a strategy that combined organic growth with strategic acquisitions, alongside investments in cross-selling initiatives, technical service capabilities, and digital and IT infrastructure. Together, these efforts expanded FCG’s presence across new end markets and strengthened its technical offerings for critical North American industries.

Together, FCG and KKR implemented a broad-based employee ownership program, making every FCG employee an owner in the business. In April 2026, KKR announced it was acquiring FCG with Neuberger Private Markets.

As part of the transaction, all of the company’s more than 3,000 employees will receive cash payouts. KKR and Neuberger also intend to re-establish the broad-based ownership program following the close of the transaction, continuing their commitment to employee ownershp.

In the video below, team members from Flow Control Group reflect on their partnership and the impact that shared ownership and collective effort can have on a company’s success.

Since 2011, we have supported companies in implementing broad-based employee ownership programs throughout our portfolio, and in 2022, KKR committed to deploying the ownership model in all new control investments across the entire Americas Private Equity platform. To date, 89 KKR portfolio companies have awarded billions of dollars in equity to over 200,000 non-senior management employees. KKR is also a founding partner of the cross-sector initiative Ownership Works, a nonprofit on a mission to increase prosperity by developing and implementing broad-based employee ownership programs.

Flow Control Group: Valuing the Employee Experience

Published June 2025

In February 2021, KKR acquired Flow Control Group (“FCG”), a leading distributor of mission-critical flow control and industrial automation products. With KKR’s support, FCG implemented a broad-based employee ownership program that extended all of its 1,500 employees across the US and Canada a stake in the business and also a voice.

Since 2011, KKR’s Industrials team has focused on employee engagement as a key driver in building stronger businesses. The strategy’s cornerstone has been to allow all employees to take part in the benefits of ownership by granting them the opportunity to participate in the equity return alongside KKR. Beyond sharing ownership, KKR also supports employee engagement by investing in training across multiple functional areas and by partnering with the workforce to give back to the community.

In this video, Flow Control Group leadership, employees and the KKR team discuss the impact that employee ownership has had in driving greater outcomes for employees and the business.