09/22/2021
HOUSTON--(BUSINESS WIRE)-- DXP Enterprises, Inc. (NASDAQ: DXPE) today announced the completion of the acquisition of Premier Water (“Premier”), a leading distributor and provider of products and services exclusively focused on serving the water and wastewater treatment markets in North and South Carolina. Financial terms of the transaction were not disclosed.
Founded in 2005, Premier is headquartered and operates out of a single location in Charlotte, North Carolina. Premier is focused on serving customers in the water and wastewater treatment markets with approximately 6 employees. Signing of the definitive agreement occurred on September 20, 2021. Sales and adjusted EBITDA were approximately $3.6 million and $850 thousand, respectively. Adjusted EBITDA was calculated as income before tax, plus interest, depreciation and amortization, and non-recurring items that will not continue after the completion of the acquisition.
David R. Little, Chairman and CEO remarked, “We are pleased to welcome the Premier employees to the DXP team. Premier is a unique, well-run business focused on providing process equipment to customers in the water and wastewater market. . . . .
See complete DPX press release here.