D&F distributes and services industrial, commercial and municipal pumps and fabricates pump packages. Headquartered in Indiana, D&F operates six locations in Indiana, Kentucky, Tennessee and Ohio and has 2010 annualised sales of approximately US$22 million.
The purchase price of US$13.4 million included approximately US$7.4 million paid in cash, US$2.9 million in the form of promissory notes bearing interest at a rate of 5%, and 155 393 shares of DXP common stock. The cash portion of the purchase price was funded by borrowings under DXP's existing credit facility.
