HOUSTON — DNOW Inc. announced that it has entered into an agreement to acquire Whitco Supply LLC in an all-cash transaction, subject to regulatory approvals and other customary closing conditions.
“The acquisition of Whitco Supply aligns with our strategic objectives to diversify end-markets and is the result of our patient, disciplined approach to capital allocation. This transaction enhances our earnings and free cash flow profile and strengthens our ability to increase shareholder value," said DNOW President and CEO David Cherechinsky. "Whitco Supply brings a talented team with extensive product expertise that will enable us to support an expanded set of customers in the midstream and other markets. We look forward to bringing together our two highly complementary businesses and creating greater opportunities for our customers, employees and suppliers.”
At this time, both companies will remain independent and operate separately. Further information will be provided after the conclusion of the regulatory approval process and other customary closing conditions.
Founded in 2003 by the Dawes family, Whitco Supply provides energy products and solutions to the midstream market, as well as the broader energy sectors.
Headquartered in Broussard, Louisiana, Whitco Supply has approximately 230 employees across eight locations in the U.S.
