McJunkin Red Man has entered into an agreement to acquire Transmark Fcx Group, an international distributor of specialty valves and flow control equipment.
McJunkin Red Man has entered into an agreement to acquire Transmark Fcx Group, an international distributor of specialty valves and flow control equipment.
McJunkin Red Man’s president and chief executive Andrew Lane (pictured) says: ‘The purchase of Transmark will strengthen MRC’s global position as a leading distributor of pipe, valves and fittings 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-based LaBarge Pipe and Steel.
Transmark, headquartered in Bradford, UK, has a network of 45 distribution and service facilities in the UK, Europe, the Middle East, Australia, New Zealand, and Southeast Asia. The company serves major international companies in the petrochemical and refining, chemical, power and energy industries.
Lane adds: ‘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 to 45 days, is subject to European Commission approval and other customary closing conditions. Additional terms of the transaction were not disclosed.
