Houston, Texas-based MRC Global reported Tuesday that it has signed an agreement to acquire the operating assets of Dan H. Brown, Inc., D/B/A Flow Control Products (Flow Control). Founded in Odessa, Texas in 1981, Flow Control is a leading provider of pneumatic, electric and electro-hydraulic valve automation packages and related field support to the Permian Basin energy industry, including production facilities, pipelines, and plant operations. Flow Control will operate as an MRC Valve Automation Center.
Concurrent with this transaction, MRC is expanding its existing facility in Odessa into a 110,000 square-foot Regional Distribution Center. When completed in 2014, the Flow Control business will operate from this newly expanded facility. The new facility will be MRC's 25th global automation center and be fully capable to service the upstream production and midstream pipeline markets.
The Permian Basin is the most active oil drilling and production region in the United States. Currently, more than 440 rigs are operating within the region.
The completion of the acquisition is subject to customary and usual conditions and is expected to close early in the third quarter.