This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

DXP Enterprises, Inc. Announces Acquisition Of Mid-Continent Safety

Stocks in this article: DXPE

DXP Enterprises, Inc. (NASDAQ: DXPE) announced today the completion of the acquisition of substantially all the assets of Mid-Continent Safety, LLC ("Mid-Continent"), a leading distributor of safety products in the Midwest.

Founded in 1938, Mid-Continent Safety is headquartered in Wichita, Kansas and operates out of three locations in Kansas, Nebraska and Oklahoma. Mid-Continent is focused on serving customers in the oil & gas, refining, power and general industrial markets. Mid-Continent provides safety instrumentation, fall and hand protection and other related safety products with approximately 19 employees.

Financial terms of the transaction were not disclosed. Signing of the definitive agreement occurred on January 31, 2012. Sales and adjusted EBITDA for Mid-Continent for the last twelve months ending December 31, 2011 were approximately $10 million and $850 thousand, respectively. Adjusted EBITDA was calculated as income before tax, plus interest, depreciation and amortization, and non-recurring items that will not continue after the completion of the acquisition.

David Little, Chief Executive Officer, stated, “We are pleased to welcome the Mid-Continent employees to the DXP team. Mid-Continent is a professional, well-run business focused on providing solutions to its customers. Mid-Continent will expand DXP's Safety Services division and allow us to continue to serve our customers' evolving needs. Mid-Continent is a great company with high caliber people.”

"Mid-Continent Safety is a leader in the Midwest with an outstanding reputation and our latest step in the expansion of DXP Safety Services - a leader in safety that provides expertise in safety products and services to a diversified North American customer base," stated Greg Oliver, Vice President Safety Products and Services. Greg Oliver also stated, "DXP Safety Services is focused on organic and acquisition driven growth in 2012 and is looking to add high quality safety companies and people."

Kent Yee, Senior Vice President Corporate Development, added further, "Mid-Continent strengthens our North Central region, complements DXP's end markets and adds further scale to our Safety Services division. We anticipate this acquisition to be accretive to earnings and further expands our safety products and services platform."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs