MIAMI, FL--(Marketwired - Jun 9, 2016) - The owners of the Corpac Group, a holding entity that operates world-class pipe and steel solutions providers throughout the globe, announced today that they have acquired the assets of Pipe Exchange, including its From the Oil Patch Publication from Merfish Pipe Holdings, LLP. This strategic purchase allows the opportunity for further expansion into North American energy markets. Pipe Exchange will continue to independently operate from its headquarters in Houston, Texas.
Corpac Group's mission focuses on collective competition, independent impact, and collaborative force. Each of Corpac Group's specialty divisions -- including Corpac® Industrial, Corpac®Services, Corpac® Distribution and Corpac® Ventures -- operates independently on the global stage, and is designed to meet the unique needs of its customers. With shared core values, combined expertise, relationships, logistics and quality systems, Corpac Group continues to provide unparalleled capabilities in the form of agile and steel products and solutions for customers worldwide.
Jorge Woldenberg, Chairman of the Board, commented, "I am very pleased to add Pipe Exchange to our portfolio companies. As we relentlessly focus on our customers' needs, Pipe Exchange is a natural fit for our family of companies. This partnership allows us to continue to advance our mission of supplying world-class quality pipe and steel products and solutions to our customers through superior customer service, innovation, quality and commitment. Operating for over 33 years, the Pipe Exchange brand has earned the reputation as a leader in the supply of high quality energy tubulars by combining its vast inventory and mill direct solutions with an extensive array of support services. This acquisition will be of significant benefit to its current and future customers."
Gerald Merfish, CEO of Merfish Pipe Holdings, stated, "We appreciate that CORPAC recognized the strategic and intrinsic value of Pipe Exchange. Pipe Exchange is an excellent company and I am confident that this strategic move by the owners of Corpac Group will be very successful."
A premier brand in API line pipe distribution, Pipe Exchange has served energy-end markets and pipe distributors in North America for 33 years. Its products include carbon steel ERW API line pipe, carbon steel seamless API line pipe and carbon steel API line pipe coated for underground installation. Pipe Exchange's primary end markets include energy exploration and oil and gas gathering.
Dolty Cheramie, who has led Pipe Exchange for the last 22 years, added: "All of us at Pipe Exchange are very excited about this transaction. This new chapter in the Pipe Exchange history positions us to unleash even more potential in the North America energy markets. Like Merfish and Pipe Exchange, Corpac Group is a principle driven company. We are happy to continue to partner with corporate groups that share our vision, values and commitment to the energy markets."
Financial terms of the agreement related to the acquisition were not disclosed. The companies completed the transaction on June 7, 2016.
About Corpac Group
Corpac Group is a global holding entity that operates world-class, vertically integrated business units in the steel production, distribution and services markets. Divisions include Corpac® Industrial, Corpac® Services, Corpac® Distribution and Corpac® Ventures. These divisions operate independently and execute uniquely tailored strategies characterized by their organizational agility, creativity, integrity, customer perspective-taking and cross-functionality to serve customers globally at every stage in the supply chain. For more information, visit www.corpacgroup.com or call 888-799-5869.
About Merfish Pipe Holdings
Merfish Pipe Holdings, founded in 1920, is an industry leading Master Distributor of carbon steel standard pipe and pipe fittings/flanges. Merfish clientele include leading distributors of PVF, Industrial, Fire Protection, HVAC and Plumbing supply houses as well as Steel Service Centers. Merfish has an extensive inventory of standard pipe and pipe products that is shipped to over 36 states from their stocking locations in Houston, Texas and Philadelphia, Pennsylvania. The majority owner of Merfish is One Equity Partners. For more information about Merfish, please visit www.merfish.com or call 1.800.869.5731.
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