August 19, 2007

DXP Enterprises, Inc., Houston, TX, will acquire Precision Industries, Inc., Omaha, NE, for approximately $106 million. The deal nearly doubles the size of DXP.
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Precision has annualized 2007 sales of approximately $250 million. &nbsp ; DXP's sales in 2006 were $279.8 million. Its sales this year will approach $340 million, based on first-half results.
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Precision is a family-owned national industrial distributor with&nbsp ; about 45%&nbsp ; of its business in integrated supply, according to Precision's spokesperson. It has 160 locations. Precision has made at least five acquisitions since 2001, according to its Web site, and has greatly expanded its network nationwide in the past five years.
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Precision sells abrasives & cutting tools, bearings, ...