DXP Enterprises acquires Californian pump distributor

Founded in 1987, Cortech Engineering operates from three Californian locations: Yorba Linda, where it has its headquarters, Bakersfield and National City. The company employs around 55 people and serves customers in the municipal, water and wastewater, general industrial, chemical and marine markets. For the 12 months ended 31 July 2015, Cortech Engineering had sales of approximately US$26.2 million and adjusted EBITDA of US$3.0 million.

“We are excited to utilise Cortech’s experience to bolster our market share in the municipal wastewater treatment, water treatment and desalination markets for California, the West Coast and throughout the United States," said DXP Enterprises CEO David Little. "With Cortech, we continue to build on our strategy of providing a breadth of technical products and services on a regional and local level. Cortech provides us immediate access to the US Western seaboard, while allowing us to continue to serve our customers’ evolving needs.”

Kent Yee, senior vice president corporate development at DXP Enterprises, added: “Cortech is another exciting addition to DXP and our efforts to be a premier distributor. Cortech provides us with immediate access into a geographic region we have not historically served. Cortech complements and diversifies DXP’s products and end markets. Cortech’s local market expertise combined with DXP’s size and scale will help us provide better customer solutions and additional expansion opportunities.”

“DXP is the perfect partner to expand our business in our present and future markets. We are aligned in our core belief that solving customers’ problems and offering cost effective solutions should be our top priority. DXP has a great legacy of growth and we plan to continue that growth. We are excited for the next stage of Cortech and helping DXP become a dominant force on the Western side of the United States,” said John Pugh, president of Cortech Engineering.