Houston, Texas-based National Oilwell Varco, Inc. (NOV) has entered into an agreement with Schlumberger Limited to acquire its Wilson distribution business. Terms of the all-cash transaction, which remains subject to customary closing conditions, including regulatory approval, were not disclosed.
Wilson is a distributor of pipe, valves and fittings as well as mill, tool and safety products and services to the international energy business and to other industrial customers. The company manages a distribution business of approximately 200 sales and operations locations across the United States.