DXP Enterprises Completes Auditor Transition Plan and Engages PricewaterhouseCoopers LLP

HOUSTON, March 25, 2022–(Small business WIRE)–DXP Enterprises, Inc. (NASDAQ: DXPE) on Friday, March 25, 2022, introduced its Audit Committee selected PricewaterhouseCoopers LLP as its independent registered community accounting agency for the 2022 fiscal 12 months.

On March 23, 2022, the Audit Committee educated McConnell & Jones LLP (“McConnell Jones”) of this final decision. McConnell Jones will go on in its capacity by way of the completion of is audit products and services for the fiscal calendar year ending December 31, 2021, and the filing of DXP’s 2021 Variety 10-K.

Kent Yee, CFO, extra, “Initially, I want to thank McConnell & Jones for doing work with us to get our third quarter and fiscal 2021 accomplished in a well timed fashion specified the unconventional instances. The team from McConnell Jones dealt with every little thing with the utmost professionalism, diligence, and candor. Their breadth of expertise and team depth has been apparent. It was incredibly refreshing. As mentioned again in November, DXP’s auditor transition prepare has been about the upcoming of DXP and to align with our eyesight and ambitions for the finance and accounting perform. Given that 2017, we have been focused on ensuring we were being creating a finance and accounting crew, capabilities and purpose that would assist and propel DXP into becoming a multi-billion-dollar company. This program is centered all around steady advancement in folks, accounting processes and engineering to guidance the range of businesses that are integral to DXP. We appear ahead to our growth and enhancement.”

Gene Padgett, CAO additional, “We have talked about aligning company suppliers and tools befitting DXP from day a person. We are at just one of these inflection details and we are thrilled to drive ahead and proceed to raise the bar. We have get the job done to do about accounting procedures and technological instruments, but we are properly on our way and keep on being enthusiastic about the upcoming.”

About DXP Enterprises, Inc.

DXP Enterprises, Inc. is a major products and solutions and provider distributor that provides benefit and full price financial savings options to industrial buyers all over the United States, Canada and Dubai. DXP offers ground breaking pumping answers, supply chain solutions and upkeep, maintenance, working and manufacturing (“MROP”) products and services that emphasize and utilize DXP’s extensive products know-how and complex experience in rotating tools, bearings, electrical power transmission, steel functioning, industrial supplies and protection solutions and services. DXP’s breadth of MROP products and support answers enables DXP to be flexible and shopper-driven, creating aggressive strengths for our consumers. DXP’s company segments contain Service Facilities, Impressive Pumping Methods and Source Chain Providers. For extra information and facts, go to www.dxpe.com.

The Personal Securities Litigation Reform Act of 1995 provides a “safe and sound-harbor” for forward-on the lookout statements. Specified information incorporated in this push launch (as well as data incorporated in oral statements or other created statements created by or to be produced by the Company) consists of statements that are forward-hunting. These ahead-wanting statements incorporate with no limitation those about the Company’s expectations with regards to the effects of the COVID-19 pandemic and the effect of small commodity prices of oil and fuel the Firm’s expectations about the filing of the Form 10-Q the description of the predicted alterations in the Firm’s consolidated harmony sheet and the effects of functions and the Firm’s evaluation of the effect of these types of predicted improvements the Company’s business enterprise, the Company’s upcoming profitability, funds move, liquidity, and growth. This kind of forward-on the lookout details involves crucial pitfalls and uncertainties that could noticeably impact predicted benefits in the foreseeable future and appropriately, this kind of final results may differ from those expressed in any forward-on the lookout statement manufactured by or on behalf of the Company. These pitfalls and uncertainties include things like, but are not constrained to decreases in oil and normal gasoline charges decreases in oil and pure fuel marketplace expenditure ranges, which could consequence from decreased oil and purely natural gas costs or other components lack of ability of the Organization or its unbiased auditors to comprehensive the operate required in get to file the Form 10-Q, in the envisioned time frame unanticipated changes to the Company’s functioning outcomes in the Kind 10-Q as submitted or in relation to prior intervals, including as in contrast to the anticipated modifications stated here unanticipated effects of these improvements and its materiality potential to acquire needed capital, dependence on present administration, leverage and personal debt support, domestic or world wide economic situations, economic threats connected to the impression of COVID-19, means to regulate modifications and the continued health and fitness or availability of management personnel and improvements in consumer preferences and attitudes. In some instances, you can discover forward-looking statements by terminology this sort of as, but not restricted to, “may,” “will,” “must,” “intend,” “count on,” “system,” “foresee,” “feel,” “estimate,” “forecast,” “likely,” “objective,” or “carry on” or the detrimental of these kinds of terms or other comparable terminology. For a lot more information, evaluation the Company’s filings with the Securities and Trade Fee. Additional information on these pitfalls and other opportunity elements that could have an effect on the Company’s business enterprise and fiscal benefits is integrated in the Company’s filings with the SEC, together with in the “Hazard Factors” and “Management’s Dialogue and Assessment of Economic Situation and Final results of Functions” sections of the Company’s most recently submitted periodic stories on Variety 10-K and Kind 10-Q and subsequent filings. The Organization assumes no obligation to update any ahead-seeking statements or facts, which speak as of their respective dates.

Perspective supply model on businesswire.com: https://www.businesswire.com/news/home/20220325005112/en/

Contacts

Kent Yee
Senior Vice President, CFO
713-996-4700
www.dxpe.com