DNOW Completes MRC Global Merger (All-Stock)

DNOW Inc. reported that it completed its acquisition of MRC Global Inc. in an all-stock transaction on November 6, 2025. The company said annual merger cost synergies are ahead of plan, with first-year savings projected at $23 million, which is 35% above target, while maintaining a $70 million three-year synergy commitment.

In full-year 2025, DNOW reported revenue of $2,820 million and adjusted EBITDA of $209 million, or 7.4% of revenue. The company also reported cash provided by operating activities of $155 million and repurchased $37 million of common stock during the year.