Davis Polk advised Goldman, Sachs & Co. and Barclays Capital Inc., as representatives of the underwriters, in connection with MRC Global Inc.’s initial public offering of 22,727,273 shares of its common stock at a price to the public of $21 per share. Of those shares, MRC sold 17,045,455 shares and a selling stockholder (PVF Holdings LLC, an entity controlled by funds affiliated with Goldman, Sachs & Co.) sold 5,681,818 shares. The common stock is listed on the New York Stock Exchange under the symbol “MRC.” Funds affiliated with Goldman, Sachs & Co. controlled approximately 99% of MRC prior to the offering and control approximately 77% of MRC after the offering.

Headquartered in Houston, Texas, MRC is the largest global distributor of pipe, valves and fitting products and services to the energy industry, based on sales and supplies these products and services across each of the upstream, midstream and downstream sectors.

The Davis Polk corporate team included partner Richard A. Drucker and associates Byron B. Rooney, Ryan G. Mitteness and Angelica K. Grasso (not yet admitted). The tax team included partner Michael Farber and associate Isaac MacDonald (not yet admitted). Counsel Marcie A. Goldstein provided FINRA advice. Counsel Betty M. Huber and associate Amy E. Turner provided environmental advice. Joshua Sills was the legal assistant on the transaction. All members of the Davis Polk team were based in the New York office.