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DXP makes two acquisitions

Staff -- Industrial Distribution, 11/1/2006

DXP Enterprises acquired Safety International and Gulf Coast Torch & Regulator. Both deals were announced in mid-October.

Safety International provides safety and environmental consulting and training services as well as safety equipment sales, service and rental. Gulf Coast Torch & Regulator distributes welding supplies.

Safety International was founded in 1963 and is headquartered in Odessa, Texas. DXP paid approximately $2.2 million cash and assumed a half-million dollars worth of debt in the deal.

“This acquisition will add value by strengthening DXP's safety proposition in the panhandle areas of Texas as well as complement our pump business in these areas,” John Jeffery, DXP's senior vice president of sales and marketing, said in a statement.

Founded in 1978, Gulf Coast Torch & Regulator had October year-to-date sales of approximately $13.2 million. The purchase, for roughly $5.5 million in cash and promissory notes, complements DXP's existing business segments, including its MRO, Innovative Pumping Solutions and SmartSource units, Jeffery said.

Based in Houston, DXP distributes pumping solutions, integrated supply and MROP services. DXP was ranked 31st in Industrial Distribution's 2006 Big 50 report.

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