The 2020 Mid-Year Economic Update_long

NOW Inc. Agrees to Acquire Challenger Industries

Challenger Industries has 11 locations in the U.S.

NOW Inc. (NYSE: DNOW), Houston, TX, has agreed to acquire Challenger Industries Inc., Bismarck, ND. Terms of the all-cash transaction were not disclosed.

Challenger Industries is a distributor of pipe, valves and fittings for the downstream, midstream and upstream energy markets. The company has 11 locations in the U.S. and 160 employees.

"With a majority of their revenues tied to the provision of pipe, valves, fittings and flanges to downstream and midstream customers across several areas of the U.S., the Challenger Industries acquisition will expand our capabilities in those markets, in addition to strengthening our ability to service upstream customers in the Rockies," Robert Workman, president and CEO of NOW Inc.

NOW Inc. is No. 2 on MDM's list of Top Industrial PVF Distributors.

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