DXP Enterprises adds to water and wastewater portfolio

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DXP Enterprises Inc has completed the acquisition of Sullivan Environmental Technologies Inc, a US distributor and manufacturers’ representative of pumps, valves, controls, and process equipment serving the municipal and industrial water and wastewater industry in Ohio, Kentucky and Indiana.

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Sullivan’s sales and adjusted EBITDA for the year ended 31 July 2022 were approximately US$4.4 million and US$1.6 million, respectively.

“Sullivan is a unique, well-run business focused on providing equipment and services to customers in the municipal and industrial water and wastewater market,” said David Little, chairman and CEO of DXP Enterprises. “We have had a successful year in scaling our water and wastewater efforts via acquisition and we look forward to Sullivan adding to an already growing and successful end market for DXP.”

Sullivan is DXP Enterprises’ fourth acquisition in 2022, as the company continues to expand its offering within the water and wastewater markets.

“We have executed on our strategic priorities to transform and diversify DXP via acquisitions into markets and business models where we can continue to enhance DXP,” said Kent Yee, chief financial officer of DXP Enterprises. “Today, DXP’s oil & gas exposure is less than 28% and that is because we have started to scale different end markets like water and wastewater. We are having a successful year rebounding and growing through acquisition. Sullivan is another example of DXP adding experienced, technical sales teams that complements previous acquisitions.”