DXP Enterprises to acquire HSE Integrated
DXP Enterprises and HSE Integrated Ltd. have entered into a definitive agreement in which DXP will acquire all of the outstanding shares of HSE common stock.
The purchase price was $1.80 per share, for a total cost of approximately Cdn $84 million. The arrangement is subject to approval by a two-thirds vote of HSE's shareholders, and court approval.
HSE Integrated Ltd. is Canada's largest industrial safety services company with approximately 609 full time employees and annual revenues and EBITDA of approximately Cdn $98 and $13 million, respectively. HSE offers a complete suite of industrial health and safety services including: onsite safety supervision; gas detection; fixed and mobile air quality monitoring; breathing equipment rentals and services; fixed and mobile firefighting and fire protection services and equipment; worker shower (decontamination) services; onsite medical services; first aid; emergency medical response; worker safety training; industrial hygiene services; and safety consulting and supervision. Upon closing, HSE will be part of DXP's Service Center business segment and Safety Services division.
"We are very pleased to announce our agreement to acquire HSE Integrated Ltd. HSE is a quality company with great people. HSE offers us an opportunity to expand and enhance our Safety Services division and Service Center operations while establishing a meaningful presence in Canada," said DXP's president and CEO, David Little.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
