Oakbrook, Illinois-based A.M. Castle & Co., a distributor of specialty metal and plastic products, announced Thursday that it has entered into an agreement to acquire Houston, Texas-based Tube Supply, Inc. for $165 million.
Tube Supply is a value-added distributor of high performance steel and alloy products for the high-end and specialty oilfield equipment and downhole tool manufacturing market. While based in Houston, Tube Supply also has operations in Edmonton, Alberta.