Equity firm buys Merfish and Pipe Exchange
One Equity Partners, the private investment arm of JPMorganChase, has acquired majority stock positions in Merfish Pipe & Supply Company and Pipe Exchange Inc.
Gerald Merfish has been named CEO of the acquired companies while Dolty Cheramie will continue to lead Pipe Exchange as its president. Both Merfish and Cheramie have invested in the new partnership with OEP.
Merfish Pipe & Supply is a master distributor of carbon steel pipe, fittings and flanges serving distributors in the United States. Merfish’s products include carbon steel welded and seamless standard pipe, carbon steel seamless pipe fittings and carbon steel forged flanges. Pipe Exchange is a traditional distributor of carbon steel API line pipe primarily to end-users across the energy exploration end markets in and east of the Rocky Mountains. Both companies are based in Houston.
"Our new partnership with One Equity marks a new and exciting chapter for Merfish/Pipe Exchange, our employees, our customers and our suppliers,” said Merfish.
“We will continue to focus on delivering unrivaled customer service going forward, while this transaction uniquely positions the companies to grow further in partnership with OEP,” added Cheramie.
Lincoln International served as the exclusive financial advisor to the companies. Foley & Lardner served as the exclusive legal advisor to the companies.
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