DNOW Inc. has completed its all-stock acquisition of MRC Global Inc., forming one of the largest energy and industrial distribution companies in North America. The merger, valued at about $1.5 billion including net debt, combines two long-term distributors into a single, globally scaled supplier for energy, gas utility, and industrial markets.
Under the agreement, each MRC Global share was converted into 0.9489 shares of DNOW common stock. MRC Global’s shares have been delisted from the New York Stock Exchange, and the company will no longer file separate financial reports.
“The combination of DNOW and MRC Global will create a premier energy and industrial solutions provider with a balanced portfolio and a diversified customer base that strengthens long-term profitability and cash flow generation,” said DNOW president and CEO David Cherechinsky.
MRC Global CEO Rob Saltiel said the merger “advances our shared goal of becoming the premier choice for energy, gas utility and industrial customers seeking exceptional service and solutions for the largest and most complex industry needs.”
The combined company, which will continue to operate under the DNOW name and remain headquartered in Houston, brings together roughly 5,000 employees across more than 350 service and distribution locations in over 20 countries.
DNOW expects to generate about $70 million in annual cost synergies within three years, driven by IT consolidation, supply-chain efficiencies, and reduced public-company costs. The company said the deal enhances its ability to invest in growth, return capital to shareholders, and reduce debt.
The acquisition expands DNOW’s reach into gas utilities, chemical processing, municipal water, and power generation, while also reinforcing its position in energy production and transmission infrastructure.
Industry analysts said the combination underscores a wave of consolidation among industrial distributors seeking greater scale, digital capabilities, and margin stability amid volatile markets.
With integration now underway, DNOW is positioning itself as a diversified, tech-enabled supplier capable of serving both traditional energy and emerging industrial sectors worldwide.
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