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DXP Enterprises, Inc. (NASDAQ: DXPE), Houston, TX, has agreed to acquire Houston-based B27, LLC for $285 million.
B27 is a global supplier of sophisticated pump and integrated flow control solutions serving the oil & gas, power generation, air quality and other industrial markets. B27 has 342 employees with projected sales of $198 million for fiscal year 2013. “We believe DXP is ideally suited to realize the full potential of B27’s portfolio of products and services for the benefit of the customers of both companies”
"The addition of B27 complements DXP’s breadth of technical products and services. B27 is another exciting combination for DXP, especially, on the heels of the Natpro transaction we closed earlier this year," said David Little, president and CEO of DXP.
According to a press release from the company, the transaction fits withinDXP’s strategy to be a “one-stop” source for all its customers' technical product and service needs including rotating equipment; bearings and power transmission; safety products & services, metal working and industrial supplies.
B27 also provides further access to key end-markets and geography currently not served in a material way by DXP, including power generation and air quality as well as access to key international oil & gas markets.