MRC Global acquires two overseas pipe distributors
Houston-based MRC Global Inc. (MRC) officially closed on its deal to buy Norway-based Stream AS for $260 million, marking the company’s third largest deal ever. Stream AS — which has 500 employees — has relationships with all the major exploration and production companies working in Norway, including Statoil ASA, its largest customer.
MRC announced the deal in December when it said it had closed on another deal to buy England-based Flangefitt Stainless Ltd., a pipe, flange and fitting distributor. MRC’s main customer base has typically been in the U.S. land market.