M&A Deal Summary

MRC Global Acquires Stream AS

On December 9, 2013, MRC Global acquired energy services and equipment company Stream AS from HitecVision for 260M USD

Acquisition Highlights
  • This is MRC Global’s 1st transaction in the Energy Services and Equipment sector.
  • This is MRC Global’s largest (disclosed) transaction.
  • This is MRC Global’s 1st transaction in Norway.

M&A Deal Summary
Date 2013-12-09
Target Stream AS
Sector Energy Services and Equipment
Buyer(s) MRC Global
Sellers(s) HitecVision
Deal Type Add-on Acquisition
Deal Value 260M USD
Advisor(s) Robert W. Baird & Co., Inc. (Financial)

Target

Stream AS

Stavanger, Norway
website
STREAM is a provider of products, solutions and services within valves, piping, electo and instrumentation for the oil and gas industry. The STREAM group consists of Solberg & Andersen AS, Teamtrade AS, and Energy Piping AS (previously Ahlsell Oil & Gas), which all represent a number of prestigious global suppliers.

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Buyer(S) 1

Buyer

MRC Global

Houston, Texas, United States

website

Category Company
Founded 1921
Sector Distribution
Employees2,600
Revenue 3.4B USD (2023)
DESCRIPTION

MRC Global is a distributor of pipe, valve, and fitting products and services to the energy and industrial markets. MRC Global was founded in 1921 and is based in Houston, Texas.

DEAL STATS #
Overall 4 of 4
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 4 of 4
Country (Norway) 1 of 1
Year (2013) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-09 Flangefitt Stainless

Warrington, United Kingdom

Flangefitt Stainless Ltd. is a specialist stockholder and package supplier of high alloy pipe, fittings and flanges for the global energy markets.

Buy $28M

Seller(S) 1

SELLER

HitecVision

Stavanger, Norway

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1985
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HitecVision AS is a private equity firm specializing in buyouts and growth capital investments in the oil and gas industry. The Firm targets investments in middle-market companies throughout North America (primarily US) and Northern Europe (primarily Norway and the UK). HitecVision seeks companies with growth potential and unique technologies. The Firm looks to invest $30 to $150 million in companies valued up to $300 million. Specific areas of interest include drilling/down-hole, exploration/production, field development, mid- and downstream, and subsurface. HitecVision AS was formed in 1985 and is based in Stavanger. The Firm has additional offices in Oslo and Texas.

DEAL STATS #
Overall 20 of 29
Sector (Energy Services and Equipment) 7 of 10
Type (Add-on Acquisition) 9 of 15
Country (Norway) 16 of 21
Year (2013) 3 of 3
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-03 Delmar Systems & Vryhof

Schiedam, Netherlands

Delmar Systems and Vryhof are the trusted partners to most offshore energy industry’s, delivering innovative and customer-focused anchoring and mooring solutions. Delmar Systems & Vryhof are committed to the highest standards of safety, integrity, and respect to the environment. Delmar Systems & Vryhof is based in Schiedam, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-23 DeepWell

Avaldsnes, Norway

DeepWell is a well intervention company primarily providing wireline services to oil companies. DeepWell was founded in 2006 and is based in Avaldsnes, Norway.

Buy -
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