DXP Enterprises acquires Carter & Verplanck
DXP Enterprises has completed the acquisition of Carter & Verplanck Inc, a distributor of products and services exclusively focused on serving the water and wastewater markets.
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Founded in 1927, Carter & Verplanck is headquartered in Tampa, Florida, and focuses on serving the Florida, Tennessee, Georgia and Alabama markets. Carter & Verplanck provides bio-solid & residual, potable water management and wastewater treatments solutions, guiding clients through an entire lifecycle of a project - starting with design and engineering, through installation and start-up, as well as ongoing field support. CVI goes to market as a high service branch based operator and has approximately 17 employees.
Financial terms of the transaction were not disclosed. CVI has annual sales of approximately $29.5 million and earnings of $5.0 million.
"We are excited to announce the closing of Carter & Verplanck. Along with our recent acquisitions at year end, CVI will expand our water and wastewater offering and provide us with a platform and an opportunity to better serve these targeted market needs," said David Little, chief executive officer. "Similar to DXP, Carter & Verplanck is focused on providing superior customer service and product expertise. CVI is a great company with high caliber people.”
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.
