Red Man’s corporate headquarters in Tulsa, OK, and
McJunkin’s in Charleston, WV, will serve as co-headquarters for the new
company. Red Man Pipe & Supply Co. President & CEO Craig Ketchum
and McJunkin Corp. CEO and President H.B. “Bernie” Wehrle III will serve as co-chief executive officers for
the new company. As of today, titles and responsibilities were still being
ironed out for other key executives.
Goldman Sachs Capital Partners (GSCP), which in January 2007
became a substantial investor in McJunkin, played a major role in driving the
merger. It is widely viewed as a prelude to a public offering by the two
privately-held companies, although no timetable has been advanced.