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DXP Enterprises, Inc. (NASDAQ: DXPE), Houston, TX, has agreed to acquire HSE Integrated Ltd. (TSX: HSL), Calgary, Alberta, for C$84 million (US$85.4 million). HSE Integrated Ltd. is an industrial safety services company with annual revenues of C$98 million (US$99.6 million).
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Upon closing, HSE will be part of DXP's Service Center business segment and Safety Services division.
"HSE offers us an opportunity to expand and enhance our Safety Services division and Service Center operations while establishing a meaningful presence in Canada," DXP President and CEO David Little said. "By adding this experienced team and strategic offering to our suite of Safety Services, we can provide a more comprehensive offering to our customers. We are excited by our entrance into Canada and the markets HSE covers and we look forward to our future success together."
The deal is expected to close in the beginning of the third quarter.