Master Corporation has been acquired by NOW, Inc. (DistributionNOW)
March 2021 — The shareholders of Master Corporation have sold the company to NOW, Inc. (DistributionNOW).
Master Corporation is a provider of engineering, procurement and construction (EPC) services in Odessa, Texas. The company serves oil and gas producers in West Texas and New Mexico. Master Corporation designs and builds the infrastructure that takes energy commodities from the wellhead to the transmission line. The company was founded and operated by two entrepreneurs who successfully grew and operated it for 25 years. Both founders had reached retirement age and decided to sell once a successor management team had been put in place.
NOW, Inc. (DistributionNOW) is a leading global supplier of energy and industrial solutions, products and engineered equipment packages. From a network of locations across more than 20 countries and a complementary suite of online digital channels, DNOW provides thousands of PVF, MRO and OEM products to the energy and industrial markets worldwide.
Our role in the transaction
Oaklins’ team in Dallas, despite a weak M&A market for companies in the oil and gas services space, developed an effective sale strategy and outreach program to support the client. Two final bidders emerged, which improved the enterprise value outcome by 20% above the sellers’ expectations and resulted in an all-cash transaction.
Talk to the deal team
Bryan Livingston
Oaklins Capital Alliance
Related deals
JP Chick & Partners has been acquired by Qflow
J P Chick & Partners Ltd. has been acquired by Qflow Group AB, strengthening Qflow’s presence in the UK. With nearly 40 years of experience, an established presence in the East of England and broad expertise in structural, civil and environmental engineering, J P Chick complements the capabilities of Qflow’s existing UK businesses. The acquisition further expands Qflow’s UK operations and strengthens its multidisciplinary engineering offering.
Learn moreDe Groot Installatiegroep has acquired a stake in Pesch Electrotechniek
De Groot Installatiegroep has acquired a stake in Pesch Electrotechniek, a specialist in industrial electrical installations and electrical engineering services based in Rozenburg, the Netherlands. Through the acquisition of Pesch, De Groot Installatiegroep enters the industrial electrical installation market and establishes a presence in the Rotterdam port region. For Pesch, the partnership provides access to the resources, capabilities and broader technical expertise of a larger installation group, while allowing the company to build on its existing customer relationships and specialist market position.
Learn moreValuation advisory has been provided to a co-investor in VDK
EMK Capital has transferred VDK Groep B.V. from EMK Capital Partners Fund I into the newly established US$1.4 billion single-asset continuation fund, the EMK VDK Partnership Fund, alongside a co-investment from EMK Capital Partners Fund III. The transaction, co-led by LGT Capital Partners and Coller EQT, provides existing investors with the opportunity to retain their exposure to VDK while securing additional capital to support the company’s continued growth and buy-and-build strategy.
Learn more