McJunkin Red Man remains a privately held firm, with Goldman Sachs reportedly owning some 60%. The Charleston (WV) Daily Mail quoted McJunkin CEO Bernie Werhle as saying in the company’s in-house newsletter that an initial public offering “is likely down the road if the capital markets support such an offering.”
McJunkin Red ManIs Now Official
McJunkin Corp. and Red Man Pipe and Supply Co. completed their merger on Nov. 1. Now known as McJunkin Red Man Corp., the companies will have co-headquarters in Charleston, WV, and Tulsa, OK. McJunkin CEO and President H.B. Wehrle III and Red Man President and CEO Craig Ketchum will serve as co-chief executive officers for the new company.