Engine Capital to invest in MRC Global.

Engine Capital, an activist hedge fund, agreed to invest in MRC Global, a distributor of pipe, valves and fittings and other infrastructure products and services to diversified gas utility, energy and industrial end-markets. Financial terms were not disclosed. “We invested in MRC Global because of its differentiated positioning, scale advantages, franchise gas utility business and growing exposure to energy transition end markets. With his financial acumen and significant capital allocation experience, Daniel will be a valuable addition to the Board, and we are confident MRC Global is well-positioned to significantly increase shareholder value over time,” Arnaud Ajdler, Engine Founder and Managing Member.