DXP acquires B27
DXP Enterprises plans to acquire B27 LLC, a Houston-based supplier of pump and integrated flow control solutions.
The purchase price was approximately $285. Founded in 1978, B27 serves the oil & gas, power generation, air quality and other industrial markets.
B27 has approximately 342 employees with projected sales of $198 million for fiscal year 2013.
“We believe DXP is ideally suited to realize the full potential of B27’s portfolio of products and services for the benefit of the customers of both companies,” said David Little, chairman, president and CEO of DXP. “B27 is a great company with high caliber people and a culture that is very similar to ours. With the addition of B27, DXP will quickly become a global rotating equipment distributor with operations reaching as far as the Middle East and Africa.”
DXP will finance the acquisition under a new $600 million amended and restated credit facility and approximately $3 million of DXP common stock.
INDUSTRIAL SUPPLY MAGAZINE
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