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
"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
Houston-based Merfish Pipe &
Supply is a master distributor of carbon steel pipe, fittings
Pipe Exchange, also based in Houston, distributes carbon
steel American Petroleum Institute (API) line pipe to end-users
in the energy sector.