DXP Enterprises Archives

DXP Enterprises: Supply Chain Services, Repair Remain Strong

When sales declined 11 percent in January, industrial distributor DXP Enterprises turned to Plan B: Expand products and services, grab market share and reduce the bets on the table. The plan may not be unique but the fact that it is already working – February and March results improved, according to President and CEO David Little – offers a positive outlook for the distributor for the rest of 2009.

The worst-case scenario presented during its year-end conference call by the distributor of pumping, supply chain management and MROP products and services was for sales to be down 20 percent in 2009. That’s based on multiplying January’s results by 12 months, Little says.

“There’s not a lot of clarity on what’s …

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March 25, 2009

Companies

DXP 4Q Same-Store Sales Climb 3.8%

DXP Enterprises, Inc., Houston, TX, reported sales for the fourth quarter ended Dec. 31, 2008, were $193.6 million, up 14.7% over fourth quarter 2007. Profit increased 22.8% to $7 million.

Excluding fourth quarter 2008 sales of $18.4 million from businesses acquired in 2007 and 2008, sales for the 2008 fourth quarter increased 3.8% from the 2007 fourth quarter.

For the full year 2008, sales improved 65.8% to $736.9 million. Profit was $25.9 million, an increase of 49.7% over 2007.

Our goal today is to create opportunities caused by a contracting economy by gaining market share at the expense of our competitors. It is easier to perform when times are good but I look forward to our ability to succeed in these challenging times, CEO David …

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March 9, 2009

Companies

DXP 3Q Sales Up 75.1%

DXP Enterprises, Inc., Houston, TX, reported third quarter sales were $186.9 million, up 75.1% from the third quarter 2007. Profit increased 56.9% to $7 million. Businesses acquired in 2007 and 2008 contributed $65.7 million to quarterly sales.

Profit for the nine months ended Sept. 30, 2008, was $18.8 million, up 62% from the prior year period. Sales increased 97.0% to $543.2 million.

DXP Enterprises, Inc. is a distributor of products focused on pumping, integrated supply and …

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October 30, 2008

Companies

DXP Enterprises Acquires PFI for $65M

DXP Enterprises, Inc., Houston, TX, has acquired Massachusetts-based PFI, LLC, for $65 million. PFI distributes fasteners, rivets and hose clamps.

The company has locations in Georgia, North Carolina, Illinois, Ohio, Texas, California, Massachusetts and Florida.

PFI’s sales for the year ended May 3, 2008, were $71.9 million.

DXP provides pumping solutions, integrated supply and MROP (maintenance, repair, operating and production) services and distributes pumps, bearings, power transmission, seals, hose, safety, fluid power, and electrical and industrial …

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August 28, 2008

Companies

DXP Enterprises Sales in First Half at $356.3M

DXP Enterprises, Inc., Houston, TX, reported sales for second quarter ended June 30, 2008, increased 120.1% to $187.8 million from the second quarter of 2007. Profit was $6.4 million, an increase of 86.5% from the same period a year ago.

Businesses acquired in 2007 and 2008, including Precision Industries, contributed $76.1 million to second quarter sales.

Sales for the six months ended June 30, 2008, were $356.3 million, an increase of 110.9% from the first of 2007. DXP reported income for the sale period of $11.8 million, an increase of 65.3%. Organic sales for the fist half of 2008 increased 22.3% from 2007.

DXP Enterprises, Inc. is a distributor of products focused on pumping, integrated supply and …

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July 31, 2008

Companies

DXP Enterprises Organic Growth of 13.5% in 1Q

DXP Enterprises, Inc. reported sales increased 101.5% to $168.5 million in the first quarter 2008, due mostly to sales by four businesses acquired in 2007 and 2008, including Precision Industries. Profit was $5.4 million.

Excluding sales from acquired businesses, sales for the first quarter were up 13.5%. Organic sales growth was primarily due to an increase in sales of pumps, bearings, safety products and mill …

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May 13, 2008

Companies

DXP Enterprises Sales Double in 2007

DXP Enterprises, Inc. reported sales increased 58.9% to $444.5 million for 2007, thanks to its acquisition of Precision Industries earlier in the year. Profit was $17.3 million, up from $11.9 million in 2006.

In the fourth quarter, profit was $5.7 million, compared with profit of $3.5 million in 2006. Sales in the fourth quarter were up 113% to $168.8 million, again thanks to the acquisition of Precision.

DXP Enterprises distributes pumps, bearings, power transmission, seals, hose, safety, fluid power, electrical and industrial supplies. The distributor also has an integrated supply program, Smart …

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March 5, 2008

Building Materials/Construction

Wolseley Makes Five Bolt-On Acquisitions

Wolseley plc, the UK-based global distributor of plumbing and heating products to professional contractors and a supplier of building materials, announced five bolt-on acquisitions for an aggregate of 84 million pounds Sterling (US$174 million).
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In a full year, these bolt-on acquisitions are expected to add 109 million pounds (US$226 million) to total revenue.
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Stock Building Supply has purchased three companies in the U.S. (Article)
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HVAC and plumbing distributor Ferguson has acquired J.D.’s Wholesale Plumbing & Supply, Pagosa Springs, CO. J.D.’s had sales of $0.7 million in 2006.
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Wolseley France has acquired Sofiparts SAS, which designs and assembles roof trusses operating from …

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November 8, 2007

Companies

DXP Enterprises 3Q Organic Growth at 14.5%

DXP Enterprises, Inc., Houston, TX, reported profit of $4.5 million for the third quarter ending Sept. 30, 2007, compared with profit of $2.9 million in the third quarter 2006. Sales increased 56.6% to $106.8 million from $68.2 million for the third quarter of 2006. Sales by the businesses acquired since July 1, 2006, accounted for $28.7 million of the sales increase.
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Excluding sales by the acquired businesses, sales for the third quarter of 2007 increased 14.5% from the third quarter 2006.
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Year-to-date profit increased 37.8% to $11.6 million. Sales increased 37.5% to $275.7 million. Sales by the businesses acquired since July 1, 2007, accounted for $52.2 million of the sales increase. Excluding sales of the acquired businesses, sales for the first nine …

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October 26, 2007

Companies

DXP Enterprises Acquires Indian Fire & Safety

DXP Enterprises, Inc., Houston, TX, has acquired Indian Fire & Safety, Hobbs, NM, a business that provides safety consulting and training services, as well as sells safety equipment and rents oilfield equipment.
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DXP paid $12 million for the business. The unaudited sales and estimated EBITDA for the acquired business for the 12 months ending Sept. 30, 2007, were $9.2 million and $3 million, respectively.
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The acquisition strengthens DXP in New Mexico and Texas and complements its growing safety business.
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DXP is a distributor of pumps, bearings, power transmission, seals, hose, safety, fluid power, electrical and industrial supplies. It recently purchased Precision Industries, nearly doubling its annual sales to more than $500 …

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October 20, 2007

Companies

Precision President on the Decision to Sell

Precision Industries President and COO Chris Circo says the agreed-upon acquisition by DXP Enterprises, Inc., Houston, TX,&nbsp ; was for strategic reasons, and that Precision and its management would continue as usual for the foreseeable future. The deal was not made as an exit strategy for the family.
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We’re still young and we want to keep working as long as we are having fun,” Circo says. “This is the business that we want to be in and the business that we grew up in. We think we can continue to do a lot of good for the combined organizations.
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DXP Enterprises will acquire Precision Industries, Inc., Omaha, NE, for approximately $106 million. The deal nearly doubles the size of DXP.
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Precision has annualized 2007 sales of approximately $250 …

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August 25, 2007

Companies

Precision President: DXP Deal a Strategic Move for Family-Run Company

DXP Enterprises will acquire Precision Industries, Inc., Omaha, NE, for approximately $106 million. The deal nearly doubles the size of DXP.

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Precision has annualized 2007 sales of approximately …

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August 23, 2007

Companies

DXP Enterprises to Buy Precision Industries for $106M

DXP Enterprises, Inc., Houston, TX, will acquire Precision Industries, Inc., Omaha, NE, for approximately $106 million. The deal nearly doubles the size of DXP.
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Precision has annualized 2007 sales of approximately $250 million. &nbsp ; DXP’s sales in 2006 were $279.8 million. Its sales this year will approach $340 million, based on first-half results.
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Precision is a family-owned national industrial distributor with&nbsp ; about 45%&nbsp ; of its business in integrated supply, according to Precision’s spokesperson. It has 160 locations. Precision has made at least five acquisitions since 2001, according to its Web site, and has greatly expanded its network nationwide in the past five years.
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Precision sells abrasives & cutting tools, bearings, …

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August 19, 2007

Companies

DXP Enterprises Sales Up 22.3% in 2Q

DXP Enterprises, Inc. reported profit of $3.4 million for the second quarter ending June 30, 2007, compared with profit of $2.9 million in the second quarter 2006.
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Sales increased 22.3% to $85.3 million from $69.8 million in the prior-year period. Sales by the businesses acquired in 2006 and 2007 accounted for $13.3 million of the sales increase. Excluding sales by the acquired businesses, sales for the second quarter of 2007 increased 3.2% from the prior-year period.
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Year-to-date profit for the six months ended June 30, 2007, increased 31% to $7.1 million. Sales increased 27.7% to $169 million from $132.3 million for the first six months of 2006. Sales by the businesses acquired in 2006 and 2007 accounted for $23.5 million of the sales increase. Excluding …

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July 30, 2007

Companies

DXP Enterprises to Buy Delta Process Equipment

DXP Enterprises, Inc. has agreed to buy Delta Process Equipment, Inc., a Southeastern U.S. supplier of industrial and municipal pump equipment and services, for $10 million.

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The unaudited sales and EBITDA of Delta Process for calendar 2006 were approximately $23 million and $2 million, respectively.
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Delta Process’territory stretches from Louisiana to Florida and north to Tennessee. Delta Process is a full service provider of pumps, pump repair and service, pump stations, water booster stations, sewage treatment plants, blowers, process gas compressors, controls, filtration equipment, and other ancillary products. Delta Process is fully equipped with fabricating, packaging and machining capabilities.
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John Jeffery, senior vice president …

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May 3, 2007

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