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A Public Future Based On A Private Past

February 14, 2013

McJunkin Red Man is known today as MRC Global Inc. and boasts of being the largest global distributor of pipe, valves and fittings (PVP) and related products and services to the energy industry.  The company has a very large footprint with over 425 service locations globally. More importantly it has key locations in the most active oil and natural gas regions of the world. The company is present in North America, Europe, Middle East, Asia, Central & South America, Africa and Australasia.

MCR is a Fortune 500 company and based in Houston, Texas. The company serves the energy industry from the downstream, midstream and to the upstream sectors.  It is a publicly traded company but only quite recently in 2012.  A publicly traded company means it can source more capital for its future needs from the public. This is an advantage for its future.

The company’s past is actually that of a privately held company. It all began as McJunkin Supply Company which started in February 1921 in Charleston, West Virginia. The company was basically in the same business today providing products to the oil and gas industry. It grew organically, survived the Great Depression, and also grew through acquisitions.

It was very much a family run business until Goldman Sachs acquired controlling interest in McJunkin Corporation in 2007. Then the company had a “merger of equals” with Red Man Pipe & Supply Company. Red Man was founded in 1997 by Lewis Ketchum, a Delaware Native American.  The combined company, McJunkin Red Man Corporation (MRC) produced the largest global distributor of PVF products to the energy and industrial markets.

A company with a private past is now hedging its future as a public company.

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