Pipe, valves and fittings distributor MRC Global Inc. (NYSE: MRC), Houston, TX, has agreed to acquire privately held Metron Holding AS, the parent holding company of Hypteck AS. The acquisition is expected to close by the end of the second quarter.
Headquartered in Skotselv, Norway, Hypteck is a provider of instrumentation and process control products to the offshore, marine and onshore industries with a focus on the Norwegian Continental Shelf. Hypteck's 2013 revenues were $38 million.
"Hypteck's operations complement our recent acquisition of MRC Teamtrade AS, a subsidiary of our newly acquired company Stream in Norway," said Andrew Lane, MRC Global president and CEO. "The acquisition of Hypteck expands our supplier and customer base into the important measurement sensor business and enhances our instrument flow control distribution business in the (Norwegian Continental Shelf)."
After closing, the company will operate as MRC HypTeck.