DXP Enterprises Inc. (Nasdaq: DXPE), Houston, Texas, on Monday announced that it has completed three acquisitions — Total Equipment Co., APO Pumps & Compressors (including Corporate Equipment Co.) and Pumping Solutions Inc. Financial terms of the transactions were not disclosed. DXP funded the acquisitions with cash from the balance sheet.
“We are pleased to announce these acquisitions, as each company provides DXP with exceptional management teams that enhance our ability to collaborate and serve our customers, vendors and other stakeholders,” said David Little, chairman and CEO of DXP Enterprises. “Total Equipment and APO enhance our aftermarket and service capabilities along with furthering our end market diversification efforts. Pumping Solutions and CEC provide DXP with a growing and deepening presence into the water and wastewater market as well as other commercial and industrial end markets. We believe these acquisitions provide a repeatable and sustainable earnings profile that is complementary to our business and consistent with our strategy. We welcome the employees of these companies to the DXP family. These acquisitions provide great opportunities for DXP and provide new opportunities for our vendors, customers and employees to grow with us going forward.”
Signing of the definitive agreements occurred on December 31, 2020. Sales and adjusted EBITDA of the three companies were approximately $114 million and $16 million, respectively, for the 11 months ended November 30, 2020.