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Houston-based DXP Enterprises Inc. (NASDAQ:DXPE), No. 18 on MDM’s list of the top 40 industrial distributors, reported sales for the year ended Dec. 31, 2012, were up 35.9 percent to $1.1 billion. Profit was $51 million.
Innovative Pumping Solutions sales were strongest, with 58 percent growth. DXP Service Centers sales were up 39 percent. And DXP Supply Chain Services had 8 percent sales growth.
The distributor completed seven acquisitions in 2012, which are included in the sales growth figures. Employees grew from 2,100 to 2,817.
For the fourth quarter ended Dec. 31, 2012, DXP’s sales were $293 million, up 34.2 percent from the prior-year period. Profit was $14.1 million.
“In the short term, there are still a lot of questions around the pace of growth in the U.S., an ongoing European distraction which does not materially impact DXP and the timing of a rebound in China which would lift overall industrial activity,” said CEO David R. Little.