DXP Enterprises Inc. (Nasdaq: DXPE), Houston, this week announced it has acquired Carter & Verplanck Inc., a Tampa, Florida-based distributor of products and services for the water and wastewater markets. Financial terms of the deal were not disclosed.
Founded in 1927, Carter & Verplanck serves customers in Florida, Tennessee, Georgia and Alabama. CVI provides bio-solid & residual, potable water management and wastewater treatments solutions. It is a branch-based operator with 17 employees. The company posted sales and adjusted EBITDA for 2020 of $29.5 million and $5 million, respectively.
“We are excited to announce the closing of Carter & Verplanck,” said David Little, DXP’s CEO. “Along with our recent acquisitions at year end, CVI will expand our water and wastewater offering and provide us with a platform and an opportunity to better serve these targeted market needs. Similar to DXP, Carter & Verplanck is focused on providing superior customer service and product expertise. CVI is a great company with high caliber people.”
Added Saade Chibani and Ken Walker of CVI: “Our expertise in the water and wastewater markets will complement DXP’s breadth of technical products and services. This transaction will not only allow us to continue with our existing marketing strategies, but gives us additional products, services and resources to better serve our customers.”
DXP in early January announced the acquisition of three companies.