Two major distributors of industrial and oilfield PVF supplies, McJunkin Corporation and Tulsa-based Red Man Pipe and Supply Company, today announced completion of a merger of equals that will make the new company one of the leading industrial and oilfield PVF suppliers in North America.
McJunkin Red Man Corporation will have co-headquarters in Charleston, West Virginia and Tulsa.
McJunkin Chief Executive Officer and President, H.B. Wehrle III and Red Man Pipe and Supply Company President and Chief Executive Officer Craig Ketchum will serve as Co-Chief Executive Officers for the new company.
“Red Man is proud of this moment in our company’s successful journey and is excited about our opportunities together as McJunkin Red Man. This new company will be a vital and strong player in the marketplace with a dedicated and experienced workforce,” Ketchum said.
“The combination gives us key geographic locations, expanded product and service capabilities for our customers and increased growth potential.”
“Today’s closing marks a significant milestone in the long history of the McJunkin Corporation,” Wehrle said. “We have formed a strong company with experienced, knowledgeable personnel and continued financial stability. This merger is about growth, and we are very excited about the future.”
McJunkin Red Man Corporation remains a privately held firm. Additional terms of the merger were not disclosed.