DXP Enterprises Has Completed The Acquisitions Of Hennesy Mechanical Sales Funded With Cash On The Balance Sheet
Portfolio Pulse from Benzinga Newsdesk
DXP Enterprises has finalized the acquisition of Hennesy Mechanical Sales, using cash from its balance sheet. The deal was signed on January 2, 2024. Hennesy's sales and adjusted EBITDA for the twelve months ending November 30, 2023, were about $10.1 million and $1.2 million, respectively.
January 08, 2024 | 11:21 am
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DXP Enterprises' acquisition of Hennesy Mechanical Sales is expected to enhance its business portfolio and potentially contribute to its revenue and EBITDA growth.
The acquisition of Hennesy Mechanical Sales is likely to have a positive short-term impact on DXP Enterprises' stock price. Acquisitions can lead to revenue growth and improved market positioning. The use of cash reserves for the acquisition indicates a strong balance sheet. The reported sales and EBITDA of Hennesy suggest that the acquisition could be accretive to DXP Enterprises' financials.
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