DXP Enterprises acquires Turbo Machinery Repair
DXP Enterprises announced the acquisition of Turbo Machinery Repair Inc., a pump and industrial equipment repair, maintenance, machining and labor services company.
Financial terms of the transaction were not disclosed.
Founded in 1986, Turbo is headquartered and operates out of a single location in Richmond, California. Turbo is focused on serving customers in the chemical, water/wastewater, municipal, power and general industrial markets with approximately 23 employees and sales of approximately $4 million.
“We are pleased to welcome the Turbo employees to the DXP team. Turbo is a unique, well-run business focused on providing value-added service and repair capabilities to its customers. Turbo will provide DXP’s Rotating Equipment division with new geographic territory and enhance DXP’s end market mix. Turbo is a great company with key differentiators and provides us with high caliber people,” said David R. Little, DXP chairman and CEO.
Kent Yee, CFO added, “We are excited to welcome the talented and hardworking employees of Turbo to the DXP team. Turbo is our second acquisition this year and is another exciting addition to DXP. Turbo provides us with a strong pump repair facility in Northern California and complements our 2015 acquisition of Cortech. Turbo complements and diversifies DXP’s products and services and end market exposure. This transaction will be positive for Turbo and DXP’s customers, employees and shareholders.”
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
