Houston-based MRO and industrial distributor DXP Enterprises Inc. (NASDAQ: DXPE) this week announced two acquisitions.
DXP acquired Drydon Equipment, Inc., a distributor and manufacturer rep of pumps, valves, controls and process equipment for the water and wastewater industry in the areas of central and northern Illinois, northwest Indiana, Wisconsin and the Upper Peninsula of Michigan territories and markets.
The MRO distributor also acquired Burlingame Engineers, a California provider of water and wastewater equipment in the industrial and municipal sectors.
DXP said it funded the acquisitions with cash from the balance sheet and DXP Enterprises, Inc. common stock as consideration.
Financial details for the two acquisitions were not announced.
“We are pleased to announce these acquisitions and start the year off with great additions to our water and wastewater growth efforts,” said David Little, CEO of DXP. “We are excited to have Drydon and Burlingame join the DXP family. Each company provides DXP with exceptional sales expertise that will enhance our efforts and our ability to collaborate and serve our customers as well as grow our DXP Water platform. These acquisitions are consistent with our growth strategy and demonstrate our commitment to expanding DXP into the water and wastewater treatment markets as well as maintaining our leading position as the largest distributor of rotating equipment in North America.”