HOUSTON--(BUSINESS WIRE)--
DXP Enterprises, Inc. (NASDAQ: DXPE) announced today it has completed
the acquisition of B27, LLC (“B27”). Further to DXPE’s press release
dated December 9, 2013, B27 has approximately 342 employees with
projected sales and adjusted EBITDA of $198 million and $35 million,
respectively for fiscal year 2013.
DXP’s President and CEO, David Little said, “We are very pleased to have
B27 as part of the DXP family. B27 is a quality company with great
people. We look forward to our collective success and driving towards
creating a world-class Rotating Equipment business. By adding this
experienced team and strategic offering to our suite of products and
services, we will provide a comprehensive offering to our customers. We
look forward to our future success together.”
About B27, LLC
B27, LLC (“B27”) was founded in 1978 and is headquartered in Houston,
Texas. B27 is a global supplier of sophisticated pump and integrated
flow control solutions serving the oil & gas, power generation, air
quality and other industrial markets. B27 has approximately 342
employees with projected sales and adjusted EBITDA of $198 million and
$35 million, respectively for fiscal year 2013. Adjusted EBITDA was
calculated as income before tax, plus interest, plus depreciation and
amortization, plus non-recurring items that will not continue after the
completion of the acquisition. Additional B27 information can be found
on B27’s websites at www.BestPumpworks.com
and www.IFSolutions.com.
About DXP Enterprises, Inc.
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 Mexico. 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, safety products & services and
industrial supplies. DXP’s breadth of MROP products and service
solutions allows DXP to be flexible and customer driven, creating
competitive advantages for our customers. DXP’s business segments
include Service Centers, Innovative Pumping Solutions, and Supply Chain
Services. For more information, go to www.dxpe.com.
The Private Securities Litigation Reform Act of 1995 provides a
“safe-harbor” for forward-looking statements.Certain information
included in this press release (as well as information included in oral
statements or other written statements made by or to be made by the
Company) contains statements that are forward-looking.Such
forward-looking information involves important risks and uncertainties
that could significantly affect anticipated results in the future; and
accordingly, such results may differ from those expressed in any
forward-looking statement made by or on behalf of the Company.These
risks and uncertainties include, but are not limited to: ability to
obtain needed capital, dependence on existing management, leverage and
debt service, domestic or global economic conditions, and changes in
customer preferences and attitudes. For more information, review the
Company's filings with the Securities and Exchange Commission.
DXP Enterprises, Inc.
Mac McConnell, 713-996-4700
Senior Vice
President, Finance & CFO
www.dxpe.com
Source: DXP Enterprises, Inc.