MRC signs agreement with Engine Capital and appoints Daniel Silvers to the Board

MRC Global (MRC) announced that Daniel Silvers has been appointed to the Company’s Board of Directors, effective immediately. Silvers will serve on the Board’s Compensation and Environmental, Social, Governance and Enterprise Risk Committees. Silvers’ appointment is made in conjunction with a cooperation agreement that the Company has reached with Engine Capital. Silvers has served as the managing member of Matthews Lane Capital Partners, an investment firm, since 2015. Additionally, Silvers has served as Executive Chairman of Winventory, a tech-enabled event ticketing management partner, since January 2024. Previously, Silvers served as Executive Vice President and Chief Strategy Officer at Inspired Entertainment (INSE), a gaming technology company, between 2016 and 2023 and as CEO and a director of Leisure Acquisition Corp. (LACQ), a special purpose acquisition company, from 2017 to 2021. Silvers was the President of SpringOwl Asset Management, an investment management firm, from 2009 to 2015. Silvers was the President of Western Liberty Bancorp, an acquisition-oriented holding company, from 2009 to 2010. From 2005 to 2009, Silvers served as a Vice President at Fortress Investment Group, a leading global alternative asset manager. The Cooperation Agreement, which includes certain customary standstill, voting and other provisions, will be filed by the Company with the SEC as an exhibit to the Current Report on Form 8-K. J.P. Morgan Securities is serving as exclusive financial advisor and Akin Gump Strauss Hauer & Feld LLP is serving as legal advisor to MRC Global.