<SEC-DOCUMENT>0001157523-16-006819.txt : 20161004
<SEC-HEADER>0001157523-16-006819.hdr.sgml : 20161004
<ACCEPTANCE-DATETIME>20161004073019
ACCESSION NUMBER:		0001157523-16-006819
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20161003
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20161004
DATE AS OF CHANGE:		20161004

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DXP ENTERPRISES INC
		CENTRAL INDEX KEY:			0001020710
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-INDUSTRIAL MACHINERY & EQUIPMENT [5084]
		IRS NUMBER:				760509661
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			0727

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21513
		FILM NUMBER:		161917174

	BUSINESS ADDRESS:	
		STREET 1:		7272 PINEMONT DRIVE
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77040
		BUSINESS PHONE:		7139964700

	MAIL ADDRESS:	
		STREET 1:		7272 PINEMONT DRIVE
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77040

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INDEX INC
		DATE OF NAME CHANGE:	19960808
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51432183.htm
<DESCRIPTION>DXP ENTERPRISES, INC. 8-K
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2016 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-family: Times New Roman; font-size: 10pt">
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-size: 14pt">UNITED STATES</font><font style="font-size: 14pt"><br style="font-size: 14pt"></font><font style="font-size: 14pt">SECURITIES
      AND EXCHANGE COMMISSION</font><font style="font-size: 14pt"><br style="font-size: 14pt"></font><font style="font-size: 14pt">Washington,
      D.C. 20549</font><font style="font-size: 14pt"><br style="font-size: 14pt"></font><font style="font-size: 14pt"><br style="font-size: 14pt"></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 14pt"><b>Form 8-K</b></font><br><br>
    </p>
    <p style="text-align: center">
      <b>CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT</b><br><b>OF 1934</b><br><b>Date of Report (date of
      earliest event reported):&#160;&#160;<font style="font-size: 10pt; font-family: Times New Roman">October
      3, 2016</font></b><br>
    </p>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <b>Commission file number 0-21513</b><br><br><font style="font-size: 18pt"><b>DXP
      Enterprises, Inc.</b></font><br><i>(Exact name of registrant as
      specified in its charter)</i>
    </p>
    <p style="text-align: center">

    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td valign="top" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; width: 50%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Texas</b>
          </p>
        </td>
        <td valign="top" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; padding-right: 0.0px; width: 50%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>76-0509661</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 50%">
          (State or other jurisdiction of incorporation or organization)
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 50%">
          (I.R.S. Employer Identification Number)
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td style="width: 50%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; width: 50%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>7272 Pinemont, Houston, Texas 77040</b>
          </p>
        </td>
        <td valign="top" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; padding-right: 0.0px; width: 50%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(713) 996-4700</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 50%">
          (Address of principal executive offices)
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 50%">
          Registrant&#8217;s telephone number, including area code.
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      _________________________<br><br>
    </p>
    <p>
      Check the appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:
    </p>
    <p style="white-space: nowrap">
      [&#160;&#160;]&#160;&#160;Written communications pursuant to Rule 425 under the Securities
      Act (17 CFR 230.425)<br><br>[&#160;&#160;]&#160;&#160;Soliciting material pursuant to Rule
      14a-12 under the Exchange Act (17 CFR 240.14a-12)<br><br>[&#160;&#160;]&#160;&#160;Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))<br><br>[&#160;&#160;]&#160;&#160;Pre-commencement communications pursuant to
      Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
    </p>
    <p style="white-space: nowrap">

    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="white-space: nowrap; text-align: justify">
      <b>Item 8.01.&#160;&#160;Other Events.</b>
    </p>
    <p style="text-align: justify">
      On October 3, 2016, DXP Enterprises, Inc. (the &#8220;Company&#8221;) sold its
      master distribution business of industrial fasteners, Vertex Corporate
      Holdings, Inc. and its subsidiaries, to HWC Wire &amp; Cable Company, a
      subsidiary of Houston Wire &amp; Cable Company (the &#8220;Transaction&#8221;).&#160;&#160;The
      Company received approximately $31.0 million in net cash proceeds,
      subject to customary transaction adjustments.&#160;&#160;The net proceeds of the
      Transaction were used to satisfy the $30.0 million mandatory prepayment
      obligation under the Company&#8217;s Amended and Restated Credit Facility,
      dated as of January 2, 2014, as subsequently amended.
    </p>
    <p style="text-align: justify">
      The Company issued the press release attached hereto as Exhibit 99.1 in
      connection with the closing of the Transaction.
    </p>
    <p style="white-space: nowrap; text-align: justify">
      <b>Item 9.01.&#160;&#160;Financial Statements And Exhibits</b>
    </p>
    <p style="white-space: nowrap; text-align: justify">
      (d)&#160;&#160;&#160;&#160;&#160;<i>Exhibits.</i>
    </p>
    <p style="white-space: nowrap; margin-left: 30.0px; text-align: justify">
      99.1&#160;&#160;&#160;&#160;&#160;&#160;Press Release dated October 4, 2016 announcing the Transaction.
    </p>
    <p style="white-space: nowrap">

    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      SIGNATURE
    </p>
    <p style="text-indent: 30.0px; text-align: justify">
      Pursuant to the requirements of the Securities Exchange Act of 1934, as
      amended, the Registrant has duly caused this report to be signed on its
      behalf by the undersigned hereunto duly authorized.
    </p>
    <p>

    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 47%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          <p style="text-align: justify">
            DXP ENTERPRISES, INC.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 47%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 3%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 45%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 47%">

        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 45%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left; width: 5%">
          Date:
        </td>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left; width: 47%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            October 4, 2016
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left; width: 3%">
          By:
        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; width: 45%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Mac McConnell
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 47%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 3%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 45%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Mac McConnell
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 47%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 3%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 45%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Senior Vice President/Finance, Chief Financial<br>Officer and
            Secretary
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      INDEX TO EXHIBITS<br><br>
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 12%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><i><b>Exhibit No.</b></i></u>
          </p>
        </td>
        <td style="width: 6%">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 82%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><i><b>Description</b></i></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

        </td>
        <td style="width: 6%">

        </td>
        <td style="width: 82%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="white-space: nowrap; padding-left: 0.0px; text-align: center; padding-right: 0.0px; width: 12%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            99.1
          </p>
        </td>
        <td style="width: 6%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 82%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release dated October 4, 2016 announcing the Transaction.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
  </body>
</html>
<!--<!DOCTYPE html
     PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"
     "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">-->
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51432183ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2016 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-family: Times New Roman; font-size: 8pt">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>DXP
      Enterprises Announces Sale of Non-Core Business</b></font>
    </p>
    <p>
      HOUSTON--(BUSINESS WIRE)--October 4, 2016--<b>DXP Enterprises, Inc.
      (NASDAQ: DXPE)</b> announced today that it has sold its master
      distribution business of industrial fasteners, Vertex Corporate
      Holdings, Inc., to Houston Wire &amp; Cable Company (HWC). DXPE received
      approximately $31.0 million in net cash proceeds, subject to customary
      transaction adjustments. Signing of the definitive agreement occurred on
      October 3, 2016.
    </p>
    <p>
      David Little, chairman and chief executive officer, stated, &#8220;This
      transaction presents a win-win outcome for each party. DXP is
      strengthening its balance sheet for growth and positioning DXP to focus
      on its core products and offerings. HWC is acquiring a strong
      complementary business that will benefit from their keen understanding
      of Vertex&#8217;s business model and should help position them for growth.&#8221;
    </p>
    <p>
      &#8220;The decision to sell our master distributor of fasteners was
      contemplated some time ago after a comprehensive strategic review of our
      business model and operations. We reached this agreement with HWC after
      a thorough sale process. This sale is part of our continuing commitment
      to provide greater financial flexibility and predictability, all aimed
      at creating greater long-term value for all of DXP&#8217;s stakeholders,&#8221;
      added Kent Yee, senior vice president of corporate development.
    </p>
    <p>
      The divestiture of Vertex Corporate Holdings, Inc. will be treated as
      the sale of a non-core business for financial reporting purposes. The
      financial results will be excluded from the fourth quarter of 2016.
    </p>
    <p>
      <b>About DXP Enterprises, Inc.</b>
    </p>
    <p>
      DXP Enterprises, Inc. is a leading products and service distributor that
      adds value and total cost savings solutions to industrial customers
      throughout the United States, Canada, Mexico and Dubai. DXP provides
      innovative pumping solutions, supply chain services and maintenance,
      repair, operating and production (&quot;MROP&quot;) services that emphasize and
      utilize DXP&#8217;s vast product knowledge and technical expertise in rotating
      equipment, bearings, power transmission, metal working, industrial
      supplies and safety products and services. DXP's breadth of MROP
      products and service solutions allows DXP to be flexible and
      customer-driven, creating competitive advantages for our customers.
      DXP&#8217;s business segments include Service Centers, Innovative Pumping
      Solutions and Supply Chain Services. For more information, go to <u>www.dxpe.com</u>.
    </p>
    <p>
      <i>The Private Securities Litigation Reform Act of 1995 provides a
      &#8220;safe-harbor&#8221; for forward-looking statements. Certain information
      included in this press release (as well as information included in oral
      statements or other written statements made by or to be made by the
      Company) contains statements that are forward-looking. Such
      forward-looking information involves important risks and uncertainties
      that could significantly affect anticipated results in the future; and
      accordingly, such results may differ from those expressed in any
      forward-looking statement made by or on behalf of the Company. These
      risks and uncertainties include, but are not limited to: ability to
      obtain needed capital, dependence on existing management, leverage and
      debt service, domestic or global economic conditions, and changes in
      customer preferences and attitudes. For more information, review the
      Company&#8217;s filings with the Securities and Exchange Commission.</i>
    </p>
    <p>

    </p>
    <p>
      CONTACT:<br>DXP Enterprises, Inc.<br>Mac McConnell, 713-996-4700<br>Senior
      Vice President, Finance &amp; CFO<br><u>www.dxpe.com</u>
    </p>
    <p style="text-align: right">

    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
