DXP and Precision Merger Complete
Product DetailsPower transmission and bearing distributor DXP Enterprises, Inc., Houston, TX, has finished its acquisition of Precision Industries for $106 million. The acquisition is DXP's largest and nearly doubles the distributor's size. Precision has a run rate of $250 million in sales in 2007. In the Aug. 25, 2007, issue of MDM, we presented Precision's reason for selling the company. Recently, DXP held a conference call on the purchase and shared its reasons for making the acquisition. The following is an excerpt from comments made by DXP CEO David Little during that call:
Precision Industries fits within our primary acquisition criteria of acquiring companies that allow us to gain access to new geography, strengthen our product and service offering and have established and accomplished ...