Key Developments For DXP Enterprises, Inc.
DXP Enterprises, Inc. (DXPE.O) (Nasdaq)
DXP Enterprises, Inc. Announces Plans To File Form S-3 Registration Statement
DXP Enterprises, Inc. announced that it plans to file a universal shelf registration on Form S-3 with the Securities and Exchange Commission (SEC) under which DXP would be able to offer and sell from time to time, up to $75 million of equity, debt or other types of securities, or any combination thereof, in one or more public offerings.
DXP Enterprises, Inc. Announces Acquisition of PFI, LLC
DXP Enterprises, Inc. announced the completion of the acquisition of PFI, LLC. The purchase price of approximately $65 million was financed with borrowings from a new $200 million senior credit facility. The acquired business is headquartered in Massachusetts and operates out of locations in Georgia, North Carolina, Illinois, Ohio, Texas, California, Massachusetts and Florida. PFI, LLC distributes fasteners, rivets and hose clamps.
DXP Enterprises, Inc. Announces Strategic Acquisition Of Rocky Mtn. Supply, Inc.
DXP Enterprises, Inc. announced the completion of the strategic acquisition of the assets of Rocky Mtn. Supply, Inc., a business which provides bearings, power transmission, belting, industrial and hydraulic hose, and industrial supplies. The acquired business is headquartered in Greeley, Colorado and operates out of six locations in Colorado servicing the Rocky Mountain States. DXP paid approximately $4.6 million, net of approximately $0.6 million of acquired cash, for the acquired business. The purchase price consists of approximately $3.9 million paid in cash and $0.7 million in the form of promissory notes payable to the former owners of the acquired business. The cash portion was funded by utilizing available capacity under DXP's bank revolving credit facility. The promissory notes bear interest at prime minus 1.75%.
DXP Enterprises, Inc. Announces Strategic Acquisition Of Indian Fire & Safety
DXP Enterprises, Inc. announced the completion of the strategic acquisition of Indian Fire & Safety, a business which provides safety consulting and training services as well as safety equipment sales, service and oilfield equipment rental. The acquired business is headquartered in Hobbs, New Mexico and operates in New Mexico and Texas. The Company paid approximately $12 million for the acquired business and assumed approximately $0.8 million worth of debt. The purchase price consists of approximately $6.0 million paid in cash, $3.0 million in the form of a promissory note payable to the former owner of the acquired business and $3.0 million of future payments which are contingent upon earnings over the next three years. The cash portion was funded by utilizing available capacity under the Company's bank revolving credit facility. The promissory notes bear interest at prime minus 1.75%.
DXP Enterprises, Inc. Completes Acquisition Of Precision Industries
DXP Enterprises, Inc. announced the completion of the acquisition of Precision Industries. The total purchase price of $106 million was financed with $24 million of cash available on the Company's balance sheet and borrowings from a new $130 million senior credit facility.
