Houston, TX – Merfish Pipe & Supply Company (“Merfish”) and Pipe Exchange, Inc. (“Pipe Exchange”) today announced that a majority of the stock of both companies has been acquired by One Equity Partners (“OEP”), the private investment arm of JPMorganChase. Gerald Merfish has been named CEO of the acquired companies while Dolty Cheramie will continue to lead Pipe Exchange as its President. Both Mr. Merfish and Mr. Cheramie have invested in the new partnership with OEP.
Merfish Pipe & Supply is a master distributor of carbon steel pipe, fittings and flanges serving distributors in the United States. Merfish’s products include carbon steel welded and seamless standard pipe, carbon steel seamless pipe fittings and carbon steel forged flanges. Pipe Exchange is a traditional distributor of carbon steel API line pipe primarily to end-users across the energy exploration end markets in and east of the Rocky Mountains.
Gerald Merfish commented "Our new partnership with One Equity marks a new and exciting chapter for Merfish/Pipe Exchange, our employees, our customers and our suppliers.”
Dolty Cheramie remarked that “We will continue to focus on delivering unrivaled customer service going forward, while this transaction uniquely positions the companies to grow further in partnership with OEP.”
Lincoln International served as the exclusive financial advisor to the companies. Foley & Lardner served as the exclusive legal advisor to the companies.
About Merfish Pipe & Supply Company and Pipe Exchange
Merfish is a Master distributor of carbon steel pipe, fittings and flanges serving distributors in the United States. Its products include carbon steel welded and seamless standard pipe, carbon steel seamless pipe fittings, carbon steel forged flanges. Its primary end markets include commercial construction, industrial construction, residential construction and steel/structural fabrication.
Pipe Exchange is a traditional distributor of carbon steel API line pipe primarily to end-users across the energy exploration end markets in and east of the Rocky Mountains. Its products include carbon steel ERW API line pipe, carbon steel seamless API line pipe, and carbon steel API line pipe coated for underground installation. Pipe Exchange’s primary end markets include energy exploration and gathering for oil, dry natural gas and natural gas liquids (“NGLs”).
About One Equity Partners
One Equity Partners (“OEP) makes private investments behind compelling business ideas and strong management teams. Established in 2001, OEP manages $10 billion of investments and commitments for JPMorgan Chase & Co. in direct private investment transactions. Partnering with management, OEP invests in transactions that initiate strategic and operational changes in businesses to create long-term value. OEP's investment professionals are located across North America, South America, Europe and Asia, with offices in New York, Chicago and utilises advisory offices in Frankfurt, São Paulo, Vienna and Hong Kong.
