Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
MRC Global Inc.
Baird served as a lead manager in this offering
MRC Global Inc. (“MRC” or the “Company”) (NYSE: MRC) recently completed a follow-on offering of 23,000,000 shares of its common stock at a price of $22.00 per share, generating gross proceeds of $506.0 million. All of the shares offered were sold by selling shareholders of the Company. The Company will not receive any proceeds from the sale of shares in this offering.
MRC, a Fortune 500 company, is the largest global distributor of pipe, valves and fittings (“PVF”) 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. The Company offers more than 150,000 stock keeping units, including an extensive array of PVF, oilfield supply, automation, instrumentation and other general and specialty industry supply products from over 12,000 suppliers. Through the Company’s North American and International segments, MRC serves more than 12,000 customers through over 400 service locations throughout North America, Europe, Asia and Australasia. The Company is headquartered in Houston, Texas.