DXP Enterprises Inc. (NASDAQ: DXPE), Houston, Texas, has acquired Kappe Associates Inc. Kappe is headquartered in Frederick, Md., and operates out of three locations servicing Maryland, the District of Columbia, Delaware, Virginia, Pennsylvania, Southern New Jersey and West Virginia.
Kappe is a distributor and manufacturer’s representative of pumps, controls and process equipment focused on serving the water and wastewater industry.
“We are pleased to announce the acquisition of Kappe and start the year with great additions to our water and wastewater growth efforts. … These acquisitions are consistent with our growth strategy and demonstrate our commitment to expanding DXP into the water and wastewater treatment markets as well as maintaining our leading position as the largest distributor of rotating equipment in North America,” said David Little, CEO of DXP.
Sales and adjusted EBITDA for Kappe for the past 12 months ending Dec. 31, 2023, were $25.4 million and $3.8 million, respectively.
This is DXP’s 10th acquisition under its DXP Water division.
DXP provides pumping solutions, supply chain services and maintenance, repair, operating and production services that emphasize and utilize DXP’s product knowledge and technical expertise in rotating equipment, bearings, power transmission, metalworking, industrial supplies and safety products and services.