DXP Enterprises Refinances Loan, Raises $125 Million in Borrowings

By Denny Jacob

DXP Enterprises refinanced an existing loan and raised an incremental $125 million in borrowings.

The company, a products and service distributor for industrial customers, said it closed refinancing on existing senior secured term loan B borrowings and raised its funds in term loan B borrowings. It now has $550 million in senior secured term loan B borrowings including the new ones.

DXP intends to use the proceeds to repay borrowings under its existing senior secured term loan B, and the remaining for general corporate purposes, potential acquisitions and transaction fees and expenses.

"This financing will support us in executing our strategy and funding both working capital, acquisition growth and reinvesting in the business," said Chief Executive David Little.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

October 16, 2023 16:58 ET (20:58 GMT)

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