Red Man Pipe and Supply Co. acquires Midfield Supply Ltd.
Red Man Pipe and Supply Co. of Tulsa, Oklahoma has acquired majority ownership in Midfield Supply Ltd. of Brooks, Alberta, Canada.
Midfield Supply Ltd. is one of the leading suppliers to the energy industry in Western Canada. Midfield supplies a broad range of technologically advanced products, manufactures process equipment, offers installation, reconditioning, and consulting services, and provides outsourcing of procurement/warehousing functions. With over 55 locations, 400 employees, and annual revenues in the US$350 million range, the company has consistently grown over 20% annually over the last few years. In 2002 and 2003, Deloitte and Touche selected Midfield Supply Ltd. as one of Canada’s 50 best-managed companies.
Red Man Pipe and Supply is a leading supplier of consumable oilfield and industrial supplies, tubular products, pipes, valves, and fittings. The company sells its products primarily to petrochemical producers and refiners, as well as pipeline and chemical companies, through more than 50 supply and sales stores located primarily in the western and southwestern United States.
Craig Ketchum, President and CEO of Red Man Pipe & Supply Co., states: "Midfield will enhance Red Man’s strength in the North American market, providing energy, gas transmission and distribution industries with its extensive product base and experienced personnel." Their 18 years of market knowledge will increase Red Man’s capabilities to better serve the industry as the complete "Supplier of Choice."
Capital Alliance Corporation initiated and negotiated this complex transaction, and represented the selling shareholders of Midfield Supply, Ltd..Contact Paul Puri or Ed Dawson at Capital Alliance Corporation at 214-638-8280 for more information.