DXP Enterprises, Inc. Announces Acquisition of Hartwell Environmental Corporation
- Furthers and continues to scale DXP’s National Water & Wastewater efforts
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Establishes presence in
Texas andOklahoma - Attractive Margins and Cash Flow
Hartwell is a leading manufacturer’s representative of pumps, controls and process equipment focused on serving the water and wastewater industry. DXP funded the acquisition with cash from the balance sheet.
“We are pleased to announce the acquisition of Hartwell Environmental. Hartwell adds another great company to our water and wastewater platform. Hartwell provides DXP with exceptional sales expertise that will enhance our efforts and ability to collaborate and serve our customers and grow DXP Water. Hartwell provides us with a clear leader in our home market of Texas,” commented David Little, Chairman, and Chief Executive Officer of DXP.
The signing of the definitive agreement occurred on September 1, 2024. Sales and adjusted EBITDA for Hartwell for the last twelve months ending July 31, 2024, were approximately
"Hartwell’s expertise and strategic presence in
Kent Yee, Chief Financial Officer, stated "We are very excited to have Hartwell as a part of DXP. We have dialogued for some time and welcome Hartwell’s talented and hardworking employees to the DXP team. We continue to execute on our strategy of making acquisitions in markets and business models where we can continue to enhance DXP. Hartwell complements our recent focus on water and wastewater acquisitions and provides us with platforms in both
About DXP Enterprises, Inc.
DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include but are not limited to; ability to obtain needed capital, dependence on existing management, leverage, and debt service, domestic or global economic conditions, and changes in customer preferences and attitudes. In some cases, you can identify forward-looking statements by terminology such as, but not limited to, “may,” “will,” “should,” “intend,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “goal,” or “continue” or the negative of such terms or other comparable terminology. For more information, review the Company’s filings with the Securities and Exchange Commission.
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Kent Yee
Senior Vice President CFO
713-996-4700 – www.dxpe.com
Source: DXP Enterprises, Inc.