DXP Enterprises Acquires Total Equipment, APO Pumps & Compressors, and Pumping Solutions
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DXP Enterprises has completed the acquisitions of Total Equipment Company (TEC), APO Pumps & Compressors including Corporate Equipment Company, and Pumping Solutions. Financial terms of the transactions were not disclosed.
“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. 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,” said David Little, chairman and CEO of DXP Enterprises.
“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,” added Little.
“We continue to execute on our strategic priorities and strategy of making acquisitions in markets and business models where we can continue to enhance DXP. In today’s market, we were able to not only accomplish our goals but also do it on favorable terms. We are adding over 269 talented employees to the DXP team and we look forward to our growth together. Combined, these acquisitions complement DXP while diversifying our products, services and end mark exposure,” said Kent Yee, CFO.
“We expect this set of transactions to reduce our oil & gas exposure by 200-400 basis points while adding strong recurring revenue fueled by meaningful aftermarket and service capabilities. Additionally, we are adding scale to key end markets like water and waste water, chemical and food & beverage. We anticipate these acquisitions to be accretive to earnings,” added Yee.
About DXP Enterprises
DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production (MROP) services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP’s breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for customers. DXP’s business segments include service centers, innovative pumping solutions, and supply chain services.
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