NOW Inc. (NYSE: DNOW) has entered into an agreement to purchase the business of Challenger Industries Inc. Terms of the all-cash transaction, which remains subject to customary closing conditions, including regulatory approval, were not disclosed.
Challenger Industries is a pipe, valves, and fittings supplier for the downstream, midstream, and upstream energy markets. The company manages a distribution business of approximately 11 sales and operations locations across the US.
NOW Inc. is a distributor to energy and industrial markets on a worldwide basis, with a legacy of over 150 years. NOW operates primarily under the DistributionNOW and Wilson Export brands. NOW offers a comprehensive line of products and solutions for the upstream, midstream, and downstream energy and industrial sectors.