DXP Enterprises makes $30 million loan prepayment with sale proceeds

By Tali Rackner

Norfolk, Va., Oct. 4 – DXP Enterprises, Inc. satisfied the $30 million mandatory prepayment obligation under its amended and restated credit facility with the proceeds from the sale of Vertex Corporate Holdings, Inc. and its subsidiaries to HWC Wire & Cable Co., according to an 8-K filing with the Securities and Exchange Commission.

The company received about $31 million of net cash proceeds from the sale.

Based in Houston, DXP Enterprises provides maintenance, repair and operating products, equipment and services to industrial customers.

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