June 2006 - Modern Distribution Management

June 2006

Commercial Solutions Acquires Rig Products for $8M

Commercial Solutions, Edmonton, Alberta, has completed the acquisition of Rig Products Inc., an Alberta-based oil and gas equipment distribution company, for $8 million. The acquisition will add approximately $15 million in annual revenues to Commercial and is expected to be accretive to earnings. It also further strengthens Commercial’s depth of inside and outside sales staff […]

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Singer Equities Buys PRC Industrial Supply

Singer Equities has acquired PRC Industrial Supply, Inc., Portland, ME, with a branch location in Bangor.  Founded in 1880, PRC is an industrial rubber products distributor specializing in the sale and installation of conveyor belting, industrial hose, and hydraulic hose and components. Singer Equities is a private equity firm focusing its investments toward value-added distributorships in the

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Parker-Hannifin Increases Share to 60% of Taiyo

Parker Hannifin Corporation has strengthened its global motion and control capabilities by becoming the majority shareholder in Taiyo Ltd., an Osaka, Japan-based leader in hydraulic and pneumatic technologies. Earnings are expected to be accretive in the first full year.Parker increased its equity stake in Taiyo to approximately 60% by purchasing all Taiyo voting stock previously

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Simonds International Sells Industrial Knife Business

Simonds International, Florence, SC, manufacturer of cutting tools, has reached an agreement to sell its industrial knife business to IKS-ACM of Florence, SC. The announcement was made by Ray Martino, president of Simonds International. The sale, anticipated to be in July 2006, consists of several Simonds industrial knife product lines which had previously been sold

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Industrial Gas Distributors Fight Rising Costs with Price Increases

Both Praxair Distribution Inc. and Airgas Inc have announced price increases recently in response to the rising cost of fuel and energy as well as basic materials such as steel, aluminum and brass.“The cost of fuel and energy has escalated beyond what we can absorb,” said Praxair Distribution President Wayne Yakich. “This, along with the

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Homebuilder Lennar 2Q Sales Up; Reports Slowdown in Orders

Lennar Corporation, Miami, FL, one of the nation’s largest homebuilders, reported revenues for its second quarter ended May 31, 2006, were up 56% to $4.6 billion. Profit was up 39% to $324.7 million. Stuart Miller, president and Chief Executive Officer of Lennar Corporation, said: “After a long period of steady growth, the homebuilding industry has slowed,

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Survey Reviews M&A Activity

only fifth (20 percent for domestic transactions and 19 percent for cross-border deals) by executives considering the elements most critical to a transaction’s success. One particularly encouraging insight from the Accenture study was that most corporate executives think their companies did a good job with employee retention and customer relations during their most recent transactions.

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News Digest 3612

acquisition of the Lanoga Corp. With the Hope acquisition, Pro-Build will have more than $6 billion in revenues under its umbrella. More … Tencarva Machinery Company, Greensboro, N.C., (about $100 million in annual sales) has acquired the Municipal Division of emoryWilson Company, a pump distribution company, effective May 1, 2006. Tencarva’s municipal division includes Tencarva’s current

News Digest 3612 Read More »

Survey Offers Mixed Reaction

About 96 percent of respondents to RSM McGladrey’s 2006 Manufacturing and Wholesale Distribution National Survey said their company was “thriving and growing” or “holding its own.”The survey looked at what CEOs, CFOs and other senior executives are doing to grow their companies and compete in the global economy. Overall the survey reported business leaders are

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MDM Inflation Index: May 2006

Modern Distribution Management’s May Inflation Index, which measures a cross-section of industrial supplies, stayed the same from the previous month, and up 3.8% from May 2005. Summary of MDM Inflation Index for the past 12 months: May 2006 Index 262.1April 2006 Index 262.1March 2006 Index 262.1Febuary 2006 Index 261.2January 2006 Index 260.2December 2005 Index 258.1November 2005

MDM Inflation Index: May 2006 Read More »

White Cap, a Home Depot Supply Co., to Acquire Western Fasteners

White Cap Construction Supply, a business of Home Depot Supply, has agreed to acquire Western Fasteners, Denver, CO, a distributor of construction fasteners, power tools and accessories to the growing markets of the Western and Southwestern United States. It operates eight branches located in Colorado, Texas, New Mexico and Arizona.  Western Fasteners has a 39-year history

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