HOUSTON--(BUSINESS WIRE)--Mar. 12, 2024-- DNOW Inc. (NYSE: DNOW) announced today it has completed its all-cash acquisition of Whitco Supply, LLC, after the conclusion of the regulatory approval process and other customary closing conditions.
The acquisition of Whitco Supply enhances DNOW's capabilities and position in the midstream, E&P and targeted adjacent markets that have been core to the company's growth strategy, while increasing the company's earnings and free cash flow capacity. The deployment of capital strategically aligns with and reinforces the company's commitment to increase long-term value for our shareholders and stakeholders.
"I'm proud that we continue to use our strong free cash flow to acquire accretive businesses that strengthen DNOW's financial returns for our shareholders," said David Cherechinsky, President and CEO of DNOW. "Whitco Supply brings a talented team with extensive product application expertise that will enable us to gain market share and expand our position in the midstream end market. We are excited to welcome Whitco Supply to the DNOW family and look forward to bringing together our two highly complementary businesses."
About Whitco Supply
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, LA, Whitco Supply has approximately 230 employees across eight locations in the United States.
View the full press release on ir.dnow.com:
https://ir.dnow.com/news-releases/news-release-details/dnow-completes-acquisition-whitco-supply
