WTW Acquires FlowStone Partners

Blackstone to Acquire Majority Stake in Flow Control Holdings

September 10, 2026

Manufacturing

Blackstone funds affiliated with Blackstone Capital Partners and Blackstone Energy Transition Partners agreed to acquire a majority stake in Flow Control Holdings (FCH) from Audax Private Equity, which will retain a minority equity interest. FCH makes engineered flow-control components for data center liquid cooling and food, beverage, and pharmaceutical applications; Blackstone plans to support capacity expansion amid rising demand from AI infrastructure.

Flexstone Partners Acquires Glouston Capital Partners to Build $15 Billion Private Markets Platform

June 17, 2026

Financial Services

Flexstone Partners agreed to acquire Glouston Capital Partners, a Boston-based private equity secondaries manager, to create a scaled private markets platform managing more than $15 billion across primary, co-investment and secondary strategies. The deal combines Flexstone’s global primary/co-investment capabilities with Glouston’s North American secondary presence and U.S. distribution leadership.

Apex Group Acquires Flow (FTS Tech, Inc.)

April 8, 2025

Cloud & SaaS

Apex Group Ltd. has acquired FTS Tech, Inc. (trading as Flow), a private-markets SaaS platform that streamlines fund management, onboarding, and investor engagement. The acquisition (Flow brings ~15 employees and $17bn AUA) integrates Flow's technology into Apex's fund administration and middle-office services to expand digital capabilities and deliver an end-to-end private markets infrastructure.

Quad-C Management Invests in Flow Service Partners

November 21, 2024

HVAC & Mechanical

Quad-C Management has made an investment in Flow Service Partners, a multi-region provider of HVACR and plumbing services operating in the Midwest, Southeast and Mid-Atlantic. Quad-C said it will work with Flow's management to scale operations through M&A, expand geographic reach, and add new service offerings; terms were not disclosed.

Quad‑C Management Acquires Flow Service Partners from RLJ Equity Partners and LP First Capital

November 21, 2024

HVAC & Mechanical

Quad‑C Management has acquired Flow Service Partners from sellers RLJ Equity Partners and LP First Capital; financial terms were not disclosed. Flow is a commercial HVACR and plumbing services platform headquartered in Nashville, Tennessee, operating across several U.S. states with over 400 employees and built through multiple acquisitions since 2021.

MAI Capital Management Acquires WaterStone Investment Counsel

January 22, 2024

Wealth Management

MAI Capital Management has acquired WaterStone Investment Counsel, adding $144 million in client AUM and expanding MAI's Cincinnati footprint. WaterStone will adopt MAI's brand; founders Mark Roberts and Don Brosz will become Senior Wealth Advisors and gain access to MAI's broader capabilities such as tax and estate planning.