DXP Enterprises, Inc. completes two acquisitions

DXP Enterprises, Inc. (DXPE) has completed the acquisitions of Riordan Materials Corporation (Riordan) and Florida Valve & Equipment Corp., and Environmental MD (Florida Valve EMD). DXP funded the acquisitions with cash on the balance sheet.
Riordan is a provider of products for water treatment, wastewater treatment, odor control, solids handling, pumping, and biosolid processes in the states of Maryland, New Jersey, Pennsylvania, Delaware, and Virginia.
Florida Valve EMD is a provider of valve and related products and services for the municipal water markets in the state of Florida.
The signing of the definitive agreements occurred on May 1, 2023. Sales and adjusted EBITDA for Riordan and Florida Valve EMD for the last twelve months ending March 31, 2023, were approximately USD 14.2M and USD 3.2M, respectively. Adjusted EBITDA was calculated as income before tax, plus interest, depreciation, and amortization, plus non-recurring items that will not continue after the acquisition.

Previous articleMHI agrees to collaborate with Saipem
Next articleRelevant Industrial expands team of valve experts