MRC Global Inc. (MRC)

MRC Global Inc. was a Houston-based distributor of pipe, valves, fittings and related infrastructure products and services. The company traces its roots to 1921 and was formerly known as McJunkin Red Man Holding Corporation, a name that reflected the 2007 combination of McJunkin Corporation and Red Man Pipe & Supply. It changed its name to MRC Global in January 2012.

The business served customers in the energy and industrial markets across the United States, Canada and a number of international locations. Its products included carbon and alloy steel pipe, fittings and flanges, valves and valve automation, instrumentation, and gas utility products such as meters, risers and polyethylene pipe. In addition to product sales, it provided value-added services including inventory management, delivery, valve repair and technical support for operators of pipelines, refineries, chemical plants and utilities.

MRC Global completed its initial public offering in April 2012 and listed its common stock on the New York Stock Exchange under the ticker MRC. It expanded through acquisitions over the years, including the purchase of Stream International in 2013, which broadened its international footprint. In later years it reported results through segments organized around gas utilities, downstream and industrial customers, and production and transmission infrastructure, reflecting a shift toward gas utility and industrial work as oilfield activity cycled.

On June 26, 2025, MRC Global announced an agreement to combine with DNOW Inc., another Houston-based distributor of energy and industrial products that trades on the New York Stock Exchange. The agreement provided for an all-stock transaction in which MRC Global stockholders would receive shares of DNOW. The companies said the combination would create a larger distribution platform and identified cost synergies from public company costs, corporate and information technology systems, and operational and supply chain efficiencies.

The transaction closed on November 6, 2025. Each outstanding share of MRC Global common stock was converted into 0.9489 shares of DNOW common stock, with cash paid in lieu of fractional shares. DNOW stated that it expected annual cost synergies of about $70 million within three years after closing, and described the combined business as having roughly 5,000 employees and more than 350 service and distribution locations in over 20 countries.

Following completion of the merger, MRC Global's common stock was no longer listed on the New York Stock Exchange, and a Form 25 was filed on November 6, 2025. The company also ceased to have reporting obligations under the Securities Exchange Act of 1934. Former MRC Global shareholders became holders of DNOW stock, which continues to trade under the ticker DNOW.