DXP acquires Tucker Tool
DXP Enterprises has acquired Tucker Tool Company, a distributor of cutting tools, abrasives, coolants and machine shop supplies.
Founded in 1979, Tucker Tool is headquartered in Mechanicsburg, Pa., and operates out of a single location. Tucker Tool is focused on serving customers in the chemical, oil & natural gas, power generation, general engineering and transportation markets with approximately 10 employees.
Financial terms of the transaction were not disclosed. The company had 12-month sales of approximately $8 million and earnings of $1 million in the most recent reporting period.
“We are pleased to welcome the Tucker Tool employees to the DXP team," said David Little, chief executive officer of DXP. "Tucker Tool is a professional, well-run business focused on providing solutions to its customers. Tucker Tool will expand DXP's Metal Working division and allow us to continue to serve our customers' evolving needs. Tucker Tool is a great company with high caliber people.”
"Tucker Tool brings a high level of technical expertise within cutting tools. We are excited to have the Tucker Tool team join us and become an integral business within our Northeast region. We have a great group of people joining DXP, and are excited for the next stage of growth," said Todd Hamlin, senior vice president of Service Centers.
INDUSTRIAL SUPPLY MAGAZINE
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