DXP Enterprises Inc. (NASDAQ: DXPE), Houston, TX, No. 17 on MDM’s list of the top 40 industrial distributors,has agreed to acquire C.W. Rod Tool Company, Houston, TX, a distributor of cutting tools, abrasives, coolants and machine shop supplies.
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C.W. Rod Tool Company operates out of seven locations in the Texas and Louisiana markets. CW Rod is focused on serving customers in the oil & gas and general industrial markets. CW Rod goes to market as a branch-based operator and has 115 employees.
Sales and adjusted EBITDA for CW Rod for the last 12 months ending Nov. 30, 2011 were $56.9 and $7 million, respectively.
David Little, DXP CEO, said: “Along with our recent acquisition of Kenneth Crosby, CW Rod will expand our cutting tool offering and provide us with an opportunity to better serve our customers' needs.”
