CHICAGO Merfish Pipe & Supply Co. and Pipe Exchange Inc. have been acquired by One Equity Partners (OEP), the private investment arm of JPMorgan Chase & Co.
Gerald Merfish has been named chief executive officer of the two companies and Dolty Cheramie will continue as president of Pipe Exchange, the companies said.
"This transaction uniquely positions the companies to grow further in partnership with OEP," Cheramie said in a statement.
Merfish and Cheramie have both invested in the partnership with New York-based OEP, the companies said.
Houston-based Merfish Pipe & Supply is a master distributor of carbon steel pipe, fittings and flanges.
Pipe Exchange, also based in Houston, distributes carbon steel American Petroleum Institute (API) line pipe to end-users in the energy sector.