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NOW Inc. Announces Challenger Industries Acquisition

NOW Inc. announced today that it 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, Inc. is a leading 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 United States and employs approximately 160 employees.

Robert Workman, President and CEO of NOW Inc., remarked, “With a majority of their revenues tied to the provision of pipe, valves, fittings and flanges...