Precision President on the Decision to Sell
Product DetailsPrecision Industries President and COO Chris Circo says the agreed-upon acquisition by DXP Enterprises, Inc., Houston, TX,  ; was for strategic reasons, and that Precision and its management would continue as usual for the foreseeable future. The deal was not made as an exit strategy for the family.
We're still young and we want to keep working as long as we are having fun," Circo says. "This is the business that we want to be in and the business that we grew up in. We think we can continue to do a lot of good for the combined organizations.
DXP Enterprises will acquire Precision Industries, Inc., Omaha, NE, for approximately $106 million. The deal nearly doubles the size of DXP.
Precision has annualized 2007 sales of approximately $250 ...