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DXP Acquires Tucker Tool

Maintenance, repair, and operations products and services distributor DXP Enterprises (NASDAQ: DXPE  ) has announced that it has acquired substantially all of the assets of Tucker Tool, a privately held distributor of state-of-the-art cutting tools, abrasives, coolants, and machine shop supplies. Financial terms were not disclosed.

The 10-employee Tucker Tool focuses on the chemical, oil and natural gas, power generation, general engineering, and transportation markets, complementing DXP's diverse industry representation that it's served since 1908.

Tucker had sales of around $8 million for the past 12 months ending April 30 and adjusted EBITDA of $1 million. It's expected the acquisition will be accretive to earnings and further expand DXP's metal working products and services platform.

DXP Enterprises CEO David Little said, "Tucker Tool will expand DXP's Metal Working division and allow us to continue to serve our customers' evolving needs."

DXP had almost $1.1 billion in revenues in 2012.

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Rich Duprey

Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time.

Having made the streets safe for Truth, Justice and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. So follow me on Facebook and Twitter for the most important industry news in retail and consumer products and other great stories.


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Related Tickers

10/6/2015 3:59 PM
DXPE $29.88 Up +0.56 +1.89%
DXP Enterprises, I… CAPS Rating: ****