DNOW Inc. (NYSE:DNOW) announced it has completed its all-cash acquisition of Trojan Rentals, LLC ("Trojan"), a leading provider of pump rentals, automation technology and sales of layflat hose and other associated equipment to support customers' water sourcing, transfer, recycling and treatment requirements.
David Cherechinsky, President and CEO of DNOW noted, "Trojan's reputation for a customer-first mindset, coupled with its highly sought after products and solutions, enables water management customers to deliver critical water infrastructure services to the industry. Trojan expands DNOW's product offering and enhances our earnings profile as this deployment of capital strategically aligns with and reinforces our commitment to increasing long-term value for our shareholders and stakeholders.
Along with Flex Flow and Performance Multi-Flow Solutions, this marks the third acquisition as part of our strategy to provide a more holistic water management solution to the market. Trojan's automation services are highly complementary to DNOW's growing U.S. Process Solutions business, and its addition to DNOW's Flex Flow pump rental business presents an opportunity to meet a growing demand to solve the industries' complex water management challenges."
About Trojan Rentals
Founded in 2016, Trojan provides energy products and solutions across the water management life cycle to a variety of end-markets including upstream and midstream oil and gas, municipal and industrial. Headquartered in Odessa, Texas, Trojan has approximately 90 employees across three locations in the United States.
About DNOW
DNOW is a worldwide supplier of energy and industrial products and packaged, engineered process and production equipment with a legacy of over 160 years. Headquartered in Houston, Texas, with approximately 2,550 employees and a network of locations worldwide, we offer a broad set of supply chain solutions combined with a suite of digital offerings branded as DigitalNOW® that provide customers world-class technology for digital commerce, data and information management. Our locations provide products and solutions to exploration and production, midstream transmission and storage companies, refineries, chemical companies, utilities, mining, municipal water, manufacturers, engineering and construction as well as companies operating in the decarbonization, energy evolution and renewables end markets.
Statements made in this press release that are forward-looking in nature are intended to be "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and may involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to documents filed by DNOW Inc. with the U.S. Securities and Exchange Commission, which identify significant risk factors which could cause actual results to differ from those contained in the forward-looking statements.
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