UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report: June 18, 2013
Date of earliest event reported: June 18, 2013
MRC GLOBAL INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-35479 | 20-5956993 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification Number) |
2 Houston Center, 909 Fannin, Suite 3100,
Houston, TX 77010
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code: (877) 294-7574
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 8.01 | Other Events |
On June 18, 2013, MRC Global Inc. (the “Company”) issued a press release announcing that the Company’s U.S. operating subsidiary, McJunkin Red Man Corporation, has signed an agreement to acquire the operating assets of Dan H. Brown, Inc. D/B/A Flow Control Products, a copy of which is filed as Exhibit 99.1 hereto and incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits.
| 99.1 | Press release dated June 18, 2013 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 18, 2013
| MRC GLOBAL INC. | ||
| By: | /s/ Daniel J. Churay | |
| Daniel J. Churay | ||
| Executive Vice President – Corporate Affairs, General Counsel and Corporate Secretary | ||
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INDEX TO EXHIBITS
| Exhibit |
Description | |
| 99.1 | Press release dated June 18, 2013 | |
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Exhibit 99.1
|
Contacts: | |
| James E. Braun, Executive Vice President and Chief Financial Officer | ||
| Jim.Braun@mrcglobal.com | ||
| 832-308-2845 | ||
|
Ken Dennard, Managing Partner | ||
| FOR IMMEDIATE RELEASE | Dennard • Lascar Associates, LLC | |
| ken@dennardlascar.com | ||
| 713-529-6600 |
MRC GLOBAL INC. TO ACQUIRE FLOW CONTROL PRODUCTS
HOUSTON – June 18, 2013 — MRC Global Inc. (NYSE:MRC) announced today that it has signed an agreement to acquire the operating assets of Dan H. Brown, Inc., D/B/A Flow Control Products (Flow Control).
Founded in Odessa, Texas in 1981, Flow Control is a leading provider of pneumatic, electric and electro-hydraulic valve automation packages and related field support to the Permian Basin energy industry, including production facilities, pipelines, and plant operations. Flow Control employs 25 people and will operate as an MRC Valve Automation Center. Flow Control reported 2012 revenues of $28 million.
Concurrent with this transaction, MRC is expanding its existing facility in Odessa into a 110,000 square foot Regional Distribution Center. When completed in 2014, the Flow Control business will operate from this newly expanded facility. The combined acquisition and expansion further extends MRC’s commitment to service the valve and valve automation markets. The new facility will be MRC’s 25th global automation center and be fully capable to service the upstream production and midstream pipeline markets.
The Permian Basin is the most active oil drilling and production region in the United States. Currently, more than 440 rigs are operating within the region. The Odessa, TX Valve Automation Center will serve customers’ complete valve automation needs alongside MRC’s current network of 25 service locations throughout the Permian Basin and Texas Panhandle.
“This acquisition is part of MRC’s continued commitment to support our customers’ growth in a major oil producing region of the U.S.,” stated Andrew R. Lane, MRC Chairman, President and CEO. “I am pleased to welcome Flow Control’s experienced and technically knowledgeable valve professionals to our team in the Permian Basin.”
“Both of our companies have succeeded by focusing on providing superior customer service,” added Dan Brown, Flow Control President. “MRC will help us continue our rapid growth and provide our dedicated employees with additional opportunities in a large, global company.”
The completion of the acquisition is subject to customary and usual conditions and is expected to close early in the third quarter.
About MRC Global Inc.
Headquartered in Houston, Texas, MRC, a Fortune 500 company, is the largest global distributor of pipe, valves, and fittings (PVF) and related products and services to the energy industry, based on sales, and supplies these products and services across each of the upstream, midstream and downstream sectors. More information about MRC can be found at www.mrcglobal.com.
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