DXP Enterprises, Inc., Houston, TX, has acquired Safety International, Odessa, TX, for $2.2 million in cash and approximately $.5 million worth of debt. The company provides safety and environmental consulting and training services as well as safety equipment sales, service and rental. The acquired business has operated since 1963.
The deal was funded under DXP’s bank revolving credit facility. The unaudited sales and EBITDA for the acquired business for the twelve months ending Sept. 30, 2006, were approximately $4.4 million and $0.6 million, respectively.
‘This acquisition will add value by strengthening DXP’s safety proposition in the Odessa/Midland, Cleburn and panhandle areas of Texas as well as complement our pump business in these areas,’ said Senior Vice President of Sales and Marketing John Jeffery.
DXP Enterprises provides pumping solutions, integrated supply and MROP (maintenance, repair, operating and production) services focused on pumps, bearings, power transmission, seals, hose, safety, fluid power, electrical and industrial supplies.
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