Cameron & Barkley (CamBar) and McJunkin Corp. said Cameron & Barkley will buy McJunkin's interest in McJunkin-CamBar Corp. (McBar).
McBar is a 50-50 joint venture company owned by Cameron & Barkley and McJunkin that supplies a full range of MRO products and services to industrial customers primarily in the Ohio River Valley and Gulf Coast regions with sites in Arkansas, Florida, Indiana, Kentucky, Louisiana, New York, Texas, and West Virginia. The deal is expected to close in early October. When completed, this acquisition would continue to position Hagemeyer CamBar as an industry leader in B2B distribution and services, the company said.
“We are looking forward to combining the strengths of McBar and Hagemeyer to continue our creation of a premier North American value-added B2B distribution services team,” said David Gundling, president and CEO of Hagemeyer North America.
“Working together with Cameron & Barkley over the last eight years has been beneficial to both of our companies,” said Bernie Wehrle, president and CEO of McJunkin Corp. “We are excited about McBar's prospects as part of the Hagemeyer organization and expect we will have continued dealings with each other as our integrated supply presence continues to grow.”