HSE Integrated Ltd. to be acquired by U.S.-based DXP Enterprises for $84M

TORONTO – HSE Integrated Ltd. (TSX:HSL), a supplier of on-site health, safety and environmental services, has received an $84-million friendly takeover offer from U.S.-based DXP Enterprises Inc.

Shareholders of the Calgary-headquartered HSE will vote on the proposal in late June.

“HSE’s expertise in the health, safety, and environmental monitoring industry, and our footprint across Canada will be great benefit to DXP’s other subsidiaries, and to its efforts to expand into the Canadian marketplace,” HSE president and CEO Tom Hickey said in an news release.

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Texas-based DXP sells maintenance, repair and operating products, equipment and services to industrial customers.

“HSE offers us an opportunity to expand and enhance our Safety Services division and Service Centre operations while establishing a meaningful presence in Canada,” said DXP’s chief executive David Little.

HSE shares stock gained 64 cents or 57 per cent to $1.77 a share on the Toronto Stock Exchange.