Who Owns Flotek Company?

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Who Owns Flotek Industries?

Understanding Flotek Industries' ownership is key to grasping its strategic direction and market influence. The company's recent Q1 2025 performance, with a 37% revenue increase and quadrupled net income, highlights its successful strategic shifts.

Flotek Industries, a Houston-based entity since 1985, specializes in green chemistry and data solutions for the energy and industrial sectors. Its offerings include advanced chemicals for various oilfield operations and data analytics for reservoir intelligence, as detailed in its Flotek PESTEL Analysis.

As of August 18, 2025, Flotek Industries has a market capitalization of approximately $341 million, with 29.9 million shares outstanding. This ownership structure is a blend of institutional investors, insiders, and public shareholders, each playing a role in the company's trajectory.

Flotek Industries, Inc. was established in 1985, initially incorporated in British Columbia before transitioning its domicile to Delaware in 2001. This transition was accompanied by a significant reverse stock split and a subsequent reverse merger with CESI Chemical, Inc. While specific details about the initial founders' equity stakes and early investors are not extensively documented in current public records, these early structural changes were pivotal in shaping the company's ownership landscape.

Founding Year

Flotek Industries, Inc. was founded in 1985. This marks the beginning of its operational history.

Initial Incorporation

The company was first incorporated in the Province of British Columbia on May 17, 1985. This was its original legal domicile.

Corporate Domicile Change

Flotek later moved its corporate domicile to the state of Delaware on October 23, 2001. This move often facilitates public trading and corporate governance.

Reverse Stock Split

A 120-to-1 reverse stock split occurred on October 23, 2001. This action consolidates shares and can impact per-share value.

Reverse Merger

On October 31, 2001, Flotek completed a reverse merger with CESI Chemical, Inc. This event significantly altered the company's structure and ownership.

Early Ownership Details

Specific details on the initial equity distribution among founders or early angel investors are not readily available in recent filings. The reverse merger with CESI Chemical, Inc. was a key event in defining its early ownership.

The early days of Flotek Industries, Inc. were marked by significant corporate restructuring that would influence its ownership trajectory. Founded in 1985, the company's initial incorporation in British Columbia was followed by a pivotal shift to Delaware in 2001. This move coincided with a substantial 120-to-1 reverse stock split, a common maneuver to adjust share counts and potentially increase the per-share market price. Shortly thereafter, Flotek underwent a reverse merger with CESI Chemical, Inc. This transaction is a critical point in understanding who owns Flotek, as it likely redefined the equity stakes of the original founders and introduced new ownership elements. While precise information on the founding shareholders' individual contributions or the involvement of early angel investors remains scarce in current public disclosures, these foundational events laid the groundwork for Flotek's subsequent development and public market presence. Understanding these early structural changes is key to tracing Flotek ownership history.

Key Early Ownership Events

The early ownership structure of Flotek Industries, Inc. was significantly shaped by several key events:

• Establishment in 1985.
• Initial incorporation in British Columbia.
• Transition to Delaware corporate domicile in 2001.
• Implementation of a 120-to-1 reverse stock split in 2001.
• Completion of a reverse merger with CESI Chemical, Inc. in 2001.

These events are crucial for understanding the evolution of Flotek Industries stock and its ownership patterns. For a deeper dive into the company's guiding principles, one can explore the Mission, Vision & Core Values of Flotek.

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Flotek Industries, Inc. became a publicly traded entity on July 27, 2005, listing on the New York Stock Exchange under the ticker symbol 'FTK'. This transition marked a significant step in its ownership evolution, opening the door for broader investment and public scrutiny of its shareholding patterns.

The ownership structure of Flotek Industries is notably influenced by institutional investors and key individual stakeholders. As of August 2025, the company's market capitalization stands at approximately $341 million, with 29.9 million shares outstanding. This indicates a dynamic interplay between large investment firms and company insiders, shaping the strategic direction and governance of Flotek Industries.

Key Stakeholders in Flotek Industries

Understanding who owns Flotek Industries is crucial for assessing its strategic direction and potential future developments. Major institutional investors and significant individual shareholders play a pivotal role in the company's governance.

• Institutional Investors: Collectively hold a substantial portion of Flotek Industries stock, providing capital and oversight.
• ProFrac Holding Corp.: Identified as the largest individual shareholder, holding 1.50 million shares, representing 5.03% of the company.
• Insider Shareholders: Key executives and directors, such as Jerry D. Dumas Sr. (4.94%), David Nierenberg (4.69%), and John Chisholm (4.50%), maintain significant stakes.
• Other Major Institutional Holders: Include Masters Capital Management Llc, BlackRock, Inc., Vanguard Group Inc, Morgan Stanley, Geode Capital Management, Llc, Hillsdale Investment Management Inc., Renaissance Technologies Llc, and Dimensional Fund Advisors Lp.
• Retail Investors: Represent a smaller but present segment of the ownership base.

The involvement of these diverse groups, particularly strategic partners like ProFrac Holding Corp., can significantly impact Flotek's strategy and market positioning. Analyzing the Competitors Landscape of Flotek can provide further context on how these ownership dynamics influence its competitive standing.

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The current Flotek Industries, Inc. Board of Directors comprises key leadership figures including CEO Dr. Ryan Ezell and Chairman Harsha V. Agadi. Other directors are Evan Farber, Lisa Mayr, Matt D. Wilks, and Michael Fucci, with Agadi serving as Non-Executive Chairman. Ezell’s appointment as CEO in June 2023 also positioned him as a Director.

Flotek Industries operates under a standard one-share-one-vote structure for its common stock. As of April 8, 2024, the company had 29,661,130 shares of common stock outstanding and eligible to vote. While there are no specific provisions for dual-class shares or golden shares, the influence of ProFrac Holding Corp. is notable due to its significant ownership and board representation rights, as outlined in a Securities Purchase Agreement from February 16, 2022. This agreement allows ProFrac Holdings to designate directors, leading to Evan Farber's appointment. Shareholders vote on critical matters such as director elections and executive compensation, as detailed in filings like the DEF 14A from May 29, 2025. The departure of David Nierenberg from the Board in May 2025 may impact the board’s composition and future decision-making dynamics. Understanding the Revenue Streams & Business Model of Flotek provides context for the strategic decisions made by its leadership and board.

Flotek's Board and Shareholder Influence

Flotek Industries' board composition reflects strategic partnerships and shareholder rights. The voting power is generally tied to common stock ownership.

• ProFrac Holding Corp. has rights to designate directors.
• The company follows a one-share-one-vote principle.
• Shareholder votes are crucial for electing directors and approving executive pay.
• Board changes, like David Nierenberg's departure in May 2025, can alter dynamics.

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Recent strategic shifts by Flotek Industries, focusing on data analytics and mobile power generation, have influenced its ownership landscape. The company's strong financial performance in early 2025 indicates growing investor confidence, potentially attracting new stakeholders and altering the existing Flotek ownership structure.

Flotek Industries has seen significant changes in its ownership trends over the past few years, driven by a strategic pivot towards high-margin data analytics and expansion into mobile power generation. The company's financial turnaround, highlighted by a 37% revenue increase and a 244% net income jump in Q1 2025 compared to the previous year, reflects a positive trajectory that is likely attracting a broader investor base. This improved performance, coupled with strategic acquisitions and leadership changes, such as Ryan Ezell's appointment as CEO in June 2023, contributes to a dynamic ownership profile. As of August 2025, institutional ownership has grown, with 140 institutional owners holding 11,093,788 shares, indicating increased interest from managed funds and investment firms in Flotek Industries stock.

Institutional Investor Growth

As of August 2025, Flotek Industries has 140 institutional owners. These entities collectively hold 11,093,788 shares. This signifies a growing interest from institutional investors in the company's future prospects.

Strategic Acquisitions and Contracts

In April 2025, Flotek acquired 30 real-time gas monitoring and dual fuel optimization assets. This was accompanied by a $160 million multi-year contract, aimed at enhancing its market position and immediate earnings.

Financial Health Improvement

Flotek's financial standing has improved significantly, with its debt-to-EBITDA ratio decreasing to 0.2x in 2024 from 5x in 2023. Adjusted EBITDA also saw a substantial increase to $20.3 million, surpassing 2024 guidance.

Revenue and Segment Performance

The company reported a strong Q1 2025, with total revenues up 37% and net income rising 244% year-over-year. This growth was primarily driven by an 88% increase in external chemistry revenue and a 57% rise in data analytics revenue, reflecting its successful Target Market of Flotek strategy.

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