DXP Enterprises acquires APSCO
DXP Enterprises Inc. has completed the acquisition of APSCO, a Redmond, Washington-based manufacturer’s representative of pumps, controls and process equipment focused on serving the water and wastewater industry. The deal was funded with cash from DXP's balance sheet.
Founded in 1986, APSCO serves markets in Alaska, Colorado, Hawaii, Idaho, Montana, Oregon, Washington, Wyoming, and surrounding areas.
“APSCO will enhance our product and aftermarket and service capabilities, along with furthering our efforts to grow our DXP Water platform,” said DXP Chairman and CEO David Little, Chairman.
The signing of the definitive agreement occurred on October 1. Sales and adjusted EBITDA for APSCO for the last 12 months ending July 31 were approximately $12.9 million and $1.5 million, respectively. Adjusted EBITDA was calculated as income before tax, plus interest, plus depreciation and amortization, plus non-recurring items less go-forward selling costs.
CFO Kent Yee said, “We are very excited to have APSCO as a part of DXP. We are excited to welcome APSCO’s talented and hardworking employees to the DXP team. We continue to execute on our strategy of making acquisitions in markets and business models where we can continue to enhance DXP. APSCO complements our recent focus on water and wastewater acquisitions and provides us with a meaningful presence in the Pacific Northwest and broader western U.S. region. This transaction will be positive for APSCO and DXP’s customers, employees, and shareholders. We look forward to closing 2025 with additional acquisitions and continuing this path into 2026 as we grow, improve and scale DXP.”
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