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Equipment Distributor Now Closes Odessa Pumps Acquisition.

MANews-(C)2009-2015

4 August 2015 - US-based energy and industrial equipment distributor Now Inc. (NYSE:DNOW) has closed its acquisition of US-based pump and equipment distributor Odessa Pumps and Equipment, Inc., the company said.

Terms of the all-cash transaction were not disclosed.

Founded in 1980, Odessa Pumps and Equipment is a distributor of pumps and equipment for the oil and gas and municipal and wastewater markets.

The company manages a distribution business of approximately 13 sales and operations locations across Texas, New Mexico and Oklahoma. Odessa employs approximately 300 employees.

Now is one of the largest distributors to energy and industrial markets on a worldwide basis. The company operates primarily under the DistributionNOW and Wilson Export brands.

Through its network of over 300 locations and approximately 5,000 employees worldwide, Now offers a line of products and solutions for the upstream, midstream and downstream energy and industrial sectors.

Now's locations provide products and solutions to exploration and production companies, energy transportation companies, refineries, chemical companies, utilities, manufacturers and engineering and construction companies.

Country: USA

Sector: Petroleum/Natural Gas/Coal

Target: Odessa Pumps and Equipment, Inc

Buyer: Now Inc

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Date:Aug 4, 2015
Words:209
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