McJunkin Red Man Holding Corp., a Tulsa-based industrial pipe supplier owned by GS Capital Partners, has agreed to acquire Transmark Fcx Group BV, a Houston, Texas-based distributor of specialty valves and flow control equipment. No financial terms were disclosed. McJunkin canceled a proposed $750 million IPO earlier this year.
McJunkin Red Man Corporation (MRC) today announced that MRC has entered into an agreement to acquire Transmark Fcx Group B.V. (Transmark), a leading international distributor of specialty valves and flow control equipment.
MRC’s President and CEO, Andrew Lane said, “The purchase of Transmark will strengthen MRC’s global position as a leading distributor of pipe, valves and fittings (PVF) for the energy and industrial markets. This acquisition is yet another step in the transformation of MRC which began in 2007 with the merger of McJunkin Corporation and Red Man Pipe and Supply Company to form McJunkin Red Man Corporation.”
Since that time, MRC has acquired the remaining ownership of Midfield Supply in Canada and acquired St. Louis, MO-based LaBarge Pipe and Steel. Transmark, headquartered in Bradford, UK, has a network of forty-five distribution and service facilities in the U.K., Europe, the Middle East, Australia, New Zealand, and Southeast Asia. The company has a proven track record in the selection, supply, service, support and delivery of the world’s leading brand names in flow control equipment, serving major international companies in the petrochemical and refining, chemical, power and energy industries. MRC’s Lane said, “Through the purchase of Transmark, we will expand our product and service offering, provide access to more of the world’s leading brand names, and expand our industrial distribution channel. The acquisition will also grow our customer base in existing sectors and strengthen our relationship with customers doing business in the global marketplace.”
The acquisition, which is expected to close within 30-45 days, is subject to European Commission approval and other customary closing conditions. Additional terms of the transaction were not disclosed.
About McJunkin Red Man
Headquartered in Houston, Texas with corporate offices in Tulsa, Oklahoma and Charleston, West Virginia, MRC is the largest North American distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry, based on sales, and serves this industry across each of the upstream, midstream and downstream and industrial sectors. Additional information about MRC can be found on our website at www.mrcpvf.com