DNOW has agreed to acquire Whitco Supply, LLC in an all-cash transaction, subject to regulatory approvals and other customary closing conditions.
Both companies will remain independent and operate separately for now. And further information will be provided after the conclusion of the regulatory approval process and other customary closing conditions.
Launched in 2003 by the Dawes family, Whitco Supply provides energy products and solutions to the midstream market and the broader energy sectors. Headquartered in Broussard, LA, Whitco Supply has approximately 230 employees across eight locations in the United States.
KEY QUOTES:
“The acquisition of Whitco Supply aligns with our strategic objectives to diversify end markets and is the result of our patient, disciplined approach to capital allocation. This transaction enhances our earnings and free cash flow profile and strengthens our ability to increase shareholder value.”
“Whitco Supply brings a talented team with extensive product expertise that will enable us to support an expanded set of customers in the midstream and other markets. We look forward to bringing together our two highly complementary businesses and creating greater opportunities for our customers, employees, and suppliers.”
- David Cherechinsky, President and CEO of DNOW
