DXP Enterprises Inc. to acquire Precision Industries Inc.
Distributor of maintenance, repair and operating products to industrial customers DXP Enterprises Inc. (DXPE) reported Sunday that it will acquire privately held Precision Industries Inc. in an all-cash transaction valued at roughly $106 million.
DXP said the deal will strengthen DXP's supply chain operation, SmartSource. SmartSource helps companies reduce costs by streamlining procurement and sourcing operations.
Precision manufactures software used in supply chain management.
Shares of DXP gained $0.85, or 2.41%, to $36.10 out of the gate Monday morning.
