HOUSTON – DXP Companies announced on September 22 the completion of the acquisition of Premier Water, a distributor and supplier of products and services focused exclusively on the water and wastewater treatment markets in North and South Carolina. Financial terms of the transaction were not disclosed.
Founded in 2005, Premier is headquartered and operates from a single location in Charlotte, North Carolina. Premier is focused on serving customers in the water and wastewater treatment markets with approximately 6 employees. The signing of the final agreement took place on September 20. Sales and Adjusted EBITDA were approximately $ 3.6 million and $ 850,000, respectively. Adjusted EBITDA has been calculated as profit before tax, plus interest, amortization and non-recurring items that will not continue after the acquisition is completed.
READ MORE: DXP Enterprises Acquires Southeastern Water Management Products Distributor (published May 4)
David R. Little, President and CEO, said, âWe are delighted to welcome Premier employees to the DXP team. Premier is a unique, well-managed company focused on providing treatment equipment to customers in the water and wastewater market. Premier is a nice addition after the purchase of Carter & Verplanck which will improve DXP’s end-market mix. Premier is a great company with key differentiators and provides us with high caliber people. “
Kent Yee, Chief Financial Officer, added, âWe are delighted to welcome Premier’s talented and hardworking employees to the DXP team. Premier is our third acquisition this year. Premier strengthens our water and wastewater efforts and complements our recent acquisition of Carter & Verplanck. Premier diversifies DXP’s products and services and its exposure to the end market. This transaction will be positive for customers, employees and shareholders of Premier and DXP.