DXP Enterprises, Inc. (NASDAQ: DXPE), Houston, TX, No. 4 on MDM’s list of top power transmission/bearing distributors, has acquired Kenneth Crosby, a distributor of cuttings tools, abrasives, fasteners, gauges and industrial tools with five locations in New York and Massachusetts.
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Based in Rochester, NY, Kenneth Crosby serves customers in the power generation, medical, pharmaceutical and general industrial markets. The company goes to market as both an integrated supply and traditional branch-based operator.
Kenneth Crosby reported sales for the 12 months ended July 31, 2011, of $49 million.
\”KC further diversifies our end market exposure and provides us with an opportunity to expand into a well-established U.S. MRO market,\” said Kent Yee, senior vice president of corporate development. \”Kenneth Crosby complements our industrial products division and provides us with additional scale in cutting tools. We anticipate this acquisition to be accretive to earnings and provide us with a strong foothold in the Northeast going forward.\”
