McJunkin and Red Man close merger, form new company

By Susan Avery -- Purchasing, 11/2/2007 8:13:00 AM

McJunkin Corp. in Charleston, W.Va., and Red Man Pipe and Supply Co. in Tulsa, Okla., have completed a merger. The companies distribute industrial and oilfield pipe valve and fitting (PVF) supplies in North America.

The new company, McJunkin Red Man Corp. will have co-headquarters in Charleston and Tulsa. H.B. Wehrle III, CEO and president of McJunkin, and Craig Ketchum, president and CEO of Red Man Pipe and Supply, will serve as co-CEOs.

“This new company will be a vital and strong player in the marketplace with a dedicated and experienced workforce,” says Ketchum. “The combination gives us key geographic locations, expanded product and service capabilities for our customers and increased growth potential.”

Wehrle adds, “We have formed a strong company with experienced, knowledgeable personnel and continued financial stability. This merger is about growth, and we are excited about the future.”

McJunkin Red Man Corp. remains a privately held firm. According toIndustrial Distribution magazine, McJunkin had $1.7 billion in sales in 2006, placing it at number 12 on the Big 50 annual list of the largest industrial distributors. With $930 million in sales in 2006, Red Man takes the number 15 spot.

Founded in 1921, McJunkin distributes industrial PVF and other products to the oil and gas exploration, refining, chemical and petrochemical, power generation, steel manufacturing and other industries.

Red Man Pipe and Supply was founded in 1977 as a private minority-owned distributor that offers oilfield and industrial supplies to the oil and gas, petrochemical, refining, pipeline, transmission and chemical industries.