McJunkin Red Man Holding Corp. has signed an agreement to acquire the operations and assets of OneSteel Piping Systems (OPS). This latest acquisition continues MRC’s international expansion in targeted key markets and supports MRC’s vision to be the premier distributor of pipe, valve and fitting (PVF) products in the world. Effective as of closing, OPS will operate as “MRC Piping Systems Australia”. This Sydney-based acquisition follows the acquisition of Melbourne-based MRC Transmark Australia in October 2009, and Perth-based MRC SPF in June 2011. When the strengths of MRC Piping Systems Australia are combined with these previous acquisitions, MRC will have Australia’s largest full-line product offering including carbon steel, stainless steel, and alloy pipe, valves, fittings and flanges to serve both the maintenance, repair and operations (MRO) and project needs of its key customers throughout Australia in oil and gas, mining and mineral processing. The acquisition price is USD 67.7 million and the transaction is expected to close in the first quarter of 2012.
