EMCO Corporation has agreed to acquire MRC Global Canada, which operates nine locations across Alberta, British Columbia, and Ontario. These locations will continue as a separate division under EMCO, rebranding over the next year. The acquisition aims to enhance EMCO's presence in the mining and oil and gas sectors. The deal is expected to close in the coming months, with legal and financial advice provided by McCarthy Tétrault LLP, CIBC, and Norton Rose Fulbright.

HOUSTON, Dec. 16, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC), announced today that its subsidiary, MRC Global (Canada) ULC, has entered into a definitive agreement to sell its Canada operations to Emco Corporation.Rob Saltiel, MRC Global President & CEO stated, “This divestiture will reposition our strategic focus and future capital investment decisions on our core geographies and product offerings that provide the strongest growth and profit potential. The sale of our Canada business is expected to be accretive to our total company adjusted gross margins and adjusted EBITDA margins.“I would like to express my appreciation to our Canada team members who have consistently provided exceptional value to our customers. We believe we have found the right home for the Canada business and that Emco Corporation is well equipped to maintain success for our employees and customers into the future," Mr. Saltiel added.As a result of the expected sale, a pre-tax, non-cash loss on discontinued operations of approximately US $25 million is expected to be recorded in the fourth quarter of 2024