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DXP Enterprises Acquires Carter and Verplanck to Expand Position in Water and Wastewater Markets
Tuesday 04 May 2021

US-based industrial products and service distributor DXP Enterprises, Inc. (NASDAQ: DXPE) has acquired Florida-based water and wastewater-focussed products and services distributor Carter and Verplanck, Inc. (CVI) to expand water and wastewater offering, the company said.

Financial terms of the transaction were not disclosed.

The purchase price will be financed with cash from DXP's balance sheet and DXP Enterprises, Inc. common stock as consideration.

Sales and adjusted EBITDA for CVI for the last 12 months, ending December 31, 2020 were approximately USD 29.5m and USD 5m, respectively.

Adjusted EBITDA was calculated as income before tax, plus interest, plus depreciation and amortisation, plus non-recurring items that will not continue after the acquisition.

CVI will provide DPX with a platform and an opportunity to better serve targeted market needs.

DXP Enterprises, Inc. is a products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada and Dubai. DXP provides pumping solutions, supply chain services and maintenance, repair, operating and production services.

Carter and Verplanck provides bio-solid and residual, potable water management and wastewater treatments solutions, guiding clients through an entire lifecycle of a project.
Date Published: 04/05/2021