DXP Enterprises (DXPE) to Purchase B27, LLC for $285M

December 9, 2013 4:14 PM EST
DXP Enterprises, Inc. (NASDAQ: DXPE) and B27, LLC, principally controlled by Champlain Capital Partners, L.P., announced today that they entered into a definitive agreement pursuant to which DXP will acquire all of the equity securities and interests of B27, LLC at a purchase price of approximately $285 million. Closing is anticipated during the first quarter of 2014, subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. Signing of the definitive agreement occurred on December 9, 2013.

B27, LLC (“B27”) was founded in 1978 and is headquartered in Houston, Texas. B27 is a global supplier of sophisticated pump and integrated flow control solutions serving the oil & gas, power generation, air quality and other industrial markets. B27 has approximately 342 employees with projected sales and adjusted EBITDA of $198 million and $35 million, respectively for fiscal year 2013. Adjusted EBITDA was calculated as income before tax, plus interest, plus depreciation and amortization, plus non-recurring items that will not continue after the completion of the acquisition

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