DXP Enterprises, Inc. Announces Acquisition Of Kappe Associates, Inc.; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
DXP Enterprises, Inc. (NASDAQ:DXPE) has acquired Kappe Associates, Inc., a leading distributor in the water and wastewater industry, to enhance its National Water & Wastewater efforts and deepen its presence in the Mid-Atlantic region. The acquisition, funded with cash from DXP's balance sheet, is expected to contribute positively to DXP's sales and EBITDA, with Kappe's last twelve months' sales and adjusted EBITDA being approximately $25.4 million and $3.8 million, respectively. This acquisition aligns with DXP's growth strategy and marks its tenth acquisition under its DXP Water efforts.
February 05, 2024 | 1:20 pm
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DXP Enterprises' acquisition of Kappe Associates is expected to strengthen its National Water & Wastewater efforts, expand its Mid-Atlantic presence, and positively impact its financials with Kappe's $25.4 million in sales and $3.8 million in adjusted EBITDA.
The acquisition of Kappe Associates by DXP Enterprises is directly related to DXPE's strategic growth in the water and wastewater sector. Given Kappe's strong financial performance and strategic fit, this acquisition is likely to have a positive short-term impact on DXPE's stock price. The deal is expected to enhance DXPE's sales and EBITDA, contributing to its financial strength and market position in the water and wastewater industry.
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