DXPE acquires Mid-Continent Safety
DXP Enterprises Inc. announced the completion of the acquisition of Mid-Continent Safety LLC, a distributor of safety products in the Midwest.
Founded in 1938, Mid-Continent Safety is headquartered in Wichita, Kansas and operates out of three locations in Kansas, Nebraska and Oklahoma. Mid-Continent is focused on serving customers in the oil & gas, refining, power and general industrial markets. Mid-Continent provides safety instrumentation, fall and hand protection and other related safety products with approximately 19 employees.
Financial terms of the transaction were not disclosed. The company had sales of approximately $10 million in 2011 and earnings of $850,000.
"We are pleased to welcome the Mid-Continent employees to the DXP team," said David Little, chief executive officer. "Mid-Continent is a professional, well-run business focused on providing solutions to its customers. Mid-Continent will expand DXP's Safety Services division and allow us to continue to serve our customers' evolving needs. Mid-Continent is a great company with high caliber people."
"Mid-Continent Safety is a leader in the Midwest with an outstanding reputation and our latest step in the expansion of DXP Safety Services - a leader in safety that provides expertise in safety products and services to a diversified North American customer base," added Greg Oliver, vice president of Safety Products and Services.
Kent Yee, senior vice president of Corporate Development, said, "Mid-Continent strengthens our North Central region, complements DXP's end markets and adds further scale to our Safety Services division. We anticipate this acquisition to be accretive to earnings and further expands our safety products and services platform."
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
