Partner Article

Cheshire oil and gas supply firm confirms US deal

Flangefitt Stainless Ltd, a Warrington-based supplier to the oil and gas industry, has been acquired by MRC Global, the US group which is the world’s largest distributor of pipe, valve and fitting products and services to the energy industry.

The consideration was not disclosed but Flangefitt has a turnover of circa £17m which was built up over a successful 28-year trading period by founders Jim Nulty and Phil Oakes.

Both will stay with the business, along with the 36 other employees, and trade as MRC Flangefitt. The firm operates from bases in Warrington and Aberdeen.

Jim Nulty, General Manager of MRC Flangefitt, commented: “We are very pleased to be joining the leader in pipe, valves and fittings distribution to the oil and gas industry. Combining Flangefitt’s offering and our extensive range of services to MRC’s global project capabilities will further enhance our value proposition to our customers.”

The deal was facilitated by the Manchester-based corporate finance team from business advisers Grant Thornton LLP. Ali Sharifi, head of corporate, commented: “We congratulate Jim and Phil on the completion of this deal. Flangefitt will help MRC gain more penetration into European markets.”

Founded in 1985, Flangefitt specializes in piping requirements in duplex, super duplex, 6% molybdenum, stainless steel and nickel alloys.

Flangefitt maintains substantial stocks of European manufactured finished and semi-finished products from NORSOK-approved manufacturers. NORSOK products are specially engineered and qualified for use in the harsh North Sea offshore environment.

Flangefitt is a project-focused business for onshore and offshore oil and gas applications and specializes in quality systems, including testing of stock to the highest performance standards.

Headquartered in Houston, Texas, MRC Global, a Fortune 500 company, is the largest global distributor of pipe, valves, and fittings 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 Global can be found at www.mrcglobal.com.

This was posted in Bdaily's Members' News section by Simon Malia .