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McJunkin Red Man Corp., Houston, TX, has agreed to acquire Stainless Pipe and Fittings Australia Pty Ltd as part of its global expansion plans. SPF will operate as MRC SPF. The acquisition will enhance MRC’s global project capabilities.
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SPF, founded in 1996, is a distributor of stainless steel piping products in the southern hemisphere. Headquartered in Perth, Western Australia, SPF has seven locations across Australia as well as Korea, Italy, United Kingdom and United Arab Emirates. SPF is a project supply specialist with capabilities supplying the Oil and Gas, Mining and Mineral Processing, Chemical and Petrochemical and Water Treatment and Desalination industries.
SPF’s 430,000 square feet facility based in Perth would become MRC’s main pipe, fittings and flange (PFF) stocking and distribution center for Australasia. Complementing the Perth facility are two additional stocking locations in Australia as well as strategically placed stockholdings in the Jebel Ali Free Zone, UAE and in the United Kingdom.
Acquiring SPF would increase MRC’s global PFF stockholding in stainless steel to a value in excess of US$50 million, with global stainless PFF sales of more than US$300 million.The US$4 billion MRC group currently has more than 400 global service locations and US$850 million of PVF stock globally.
The acquisition would complement MRC’s 2009 purchase of Transmark Fcx (MRC Transmark), valve distributor in the eastern hemisphere.