DXP Enterprises acquires pump repair company Turbo Machinery Repair
DXP Enterprises, an industrial supplies company, has wrapped up its previously announced acquisition of Turbo Machinery Repair, a pump repair company in Richmond, California.
Turbo Machinery Repair, which has nearly 23 employees, is engaged in repair of pump and industrial equipment, their maintenance, and machining.
Established in 1986, the pump repair company focuses on catering to customers in the chemical, municipal, water/wastewater, power and general industrial markets.
David R. Little – Chairman and CEO of DXP Enterprises said: “We are pleased to welcome the Turbo employees to the DXP team. Turbo is a unique, well-run business focused on providing value-added service and repair capabilities to its customers.
“Turbo will provide DXP’s Rotating Equipment division with new geographic territory and enhance DXP’s end market mix. Turbo is a great company with key differentiators and provides us with high caliber people.”
Financial terms of the deal announced in late January were not revealed.
DXP Enterprises acquires Turbo Machinery Repair. Photo courtesy of Gerd Altmann from Pixabay.
Kent Yee – CFO of David R. Little said: “We are excited to welcome the talented and hardworking employees of Turbo to the DXP team. Turbo is our second acquisition this year and is another exciting addition to DXP.
“Turbo provides us with a strong pump repair facility in Northern California and complements our 2015 acquisition of Cortech. Turbo complements and diversifies DXP’s products and services and end market exposure. This transaction will be positive for Turbo and DXP’s customers, employees and shareholders.”