McJunkin Corp. (Charleston, W. Va.) has signed an agreement to acquire substantially all of the assets of Joliet Valves of Minooka, Ill. The transaction is expected to be completed by July 30.
Joliet Valves' management team will remain with the merged business, which will operate as Joliet Valves-McJunkin, a division of McJunkin Corp., after the closing.
McJunkin, a leading U.S. distributor of pipe, valves and fittings, operates more than 110 locations in the United States, Latin America and Africa. Joliet Valves distributes PVF in the Midwest and Great Plains industrial markets. The company has about 175 employees and 17 locations in Illinois, Indiana, Iowa, Minnesota and North Dakota.
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