DXP Enterprises Inc. (Nasdaq: DXPE) has closed a deal for National Process Equipment Inc.
National Process, headquartered in Calgary, Alberta, distributes pumps, packaging, compressors, and equipment and provides service and repairs. The company mainly serves the oil and gas, mining, municipal, and fire and industrial markets. National Process has eight locations across Canada.
Houston-based DXP provides maintenance, repair, operating and production services to businesses. The company also provides pumping services.
National Process’ sales were about $69 million for the 12 months ended March 31. Terms of the deal were not disclosed.
An increase in dealmaking in the oil and gas sector is affecting the industry that serves it, resulting in M&A. In April, IHS Inc. (NYSE: IHS) bought a software company that provides management software and services to the oil and gas industry.