December 2007

Plumbing/HVAC Distributor Noland Cuts Jobs

Companies, Free, HVACR, News, Plumbing Products & PVF Distribution, Subscriber Only, Top Distributor Sectors / MDM Staff

Noland Company, Newport News, VA, has cut 45 jobs across the company over the past month due to the national housing downturn, according to the local paper, the Daily Press.
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Noland, bought by WinWholesale, Dayton, OH, in 2005, sells plumbing and HVAC supplies to construction end-markets. According to the article, Noland’s advantage over rival Ferguson is that it is focused in the Southeast, which is generally doing better than the U.S. average.

Noland has about 1,300 employees, and WinWholesale has …

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Transport/Logistics M& A Deals On Pace to Beat 2006

Finance, Free, Mergers & Acquisitions, News, Strategy, Subscriber Only / MDM Staff

Total transportation and logistics deal volume for 2007 is on pace to exceed 2006 levels, according to Intersections, PricewaterhouseCoopers’ quarterly report on M & A in the global transportation and logistics industry. This may be due in part to the effects of the decline in debt market liquidity and stock market volatility felt by financial investors.

Total deal value during the first three quarters of 2007 exceeded the total deal value announced during the comparable period in 2006 ($39 billion versus $27 billion, respectively).

The pace of M & A activity in the transportation and logistics industry has not abated, and we anticipate that it is going to continue as a result of the current global environment,” said Ken Evans, U.S. transportation and logistics …

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October Construction Spending 0.8% Below September

Building Materials/Construction, Economic Trends, Free, News, Research & Analytics, Subscriber Only, Top Distributor Sectors / MDM Staff

Construction spending during October 2007 was estimated at a seasonally adjusted annual rate of $1,158.3 billion, 0.8 percent below the revised September estimate of $1,168.0 billion, according to&nbsp ; the U.S. Census Bureau of the Department of Commerce.
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The October figure is 0.6 percent below the October 2006 estimate of $1,164.9 billion. During the first 10 months of this year, construction spending amounted to $977.0 billion, 2.8 percent below the $1,005.3 billion for the same period in 2006.
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Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $863.2 billion, 1.4 percent below the revised September estimate of $875.2 billion. Residential construction was at a seasonally adjusted annual rate of …

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Airgas Makes Three Acquisitions

Companies, Finance, Free, Gases & Welding Equipment, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Airgas, Inc., Radnor, PA, has acquired Wright Welding Supply, Inc., an industrial gas and welding supply distributor in Des Moines, IA, and two other distributors in Texas and British Columbia. Together, the three transactions add $22 million in acquired annual sales.
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Wright Welding Supply, Inc. operates in Iowa and eastern Nebraska from five locations in Des Moines, Fort Dodge, Oskaloosa, and Council Bluffs, IA; and Omaha, NE, with an industrial and specialty gas fill plant in Des Moines. The operations, with about 40 employees, have been integrated into Airgas North Central, one of the regional companies within Airgas.
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In Texas, Airgas has acquired Basin Welding Supply in Odessa, TX. Basin’s new fill plant in Odessa, which opened in February 2007, will …

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Parker Hannifin Buys Temp. Sensing Eqmt Supplier

Companies, Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Parker Hannifin, Cleveland, OH, motion and control technologies supplier, today announced has acquired the Texas Thermowell Industries, Beaumont, TX, business of Bravura, Ltd., a manufacturer of temperature sensing protection equipment.&nbsp ;
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The anticipated annual revenue of the business for the 2007 fiscal year will be $5 million.
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Texas Thermowell products will give Parker a solid foundation in critical temperature sensing applications within chemical processing and petroleum refining markets,” said John Greco, president of Parker’s Instrumentation Group. “Temperature sensing is among the most commonly required control applications in processing plants which may have dozens of temperature monitoring points using these devices to protect …

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Cooper Industries Buys S. Korean Supplier

Electrical, Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Cooper Industries, Ltd., Houston, TX, has acquired Hyundai Explosion-Proof Electric Company, a South Korea-based manufacturer of explosion-proof electrical equipment.
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HEPEC specializes in explosion-proof Glass Reinforced Plastic lighting, control panels and switchgear and its products are complementary to the current Cooper Crouse-Hinds product offerings.
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The acquisition provides Cooper with increased access to the South Korean market, with its strong shipbuilding industry and where significant investment to upgrade domestic energy and petrochemical infrastructure is underway.
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The HEPEC acquisition is the eighth deal announced by Cooper in 2007.

Cooper Industries is a global manufacturer with 2006 revenues of $5.2 billion, about 85% …

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Lincoln Electric Acquires Vernon Tool Co.

Companies, Finance, Free, Gases & Welding Equipment, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Lincoln Electric, Cleveland, OH, has acquired Vernon Tool Company Inc., a San Diego, CA-based manufacturer of computer-controlled pipe cutting equipment used for precision fabrication.

Vernon Tool’s annual sales are about $9 million. Its customer base is in industrial construction as well as infrastructure and energy-related segments.

Lincoln Electric is a manufacturer of arc welding products, robotic arc-welding systems, plasma and oxyfuel cutting equipment and has a leading global position in the brazing and soldering alloys market. It has 36 manufacturing locations and operations in 19 countries with distributors and sales offices in more than 160 …

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Manufacturing Expands at Slower Rate in November

Economic Trends, Free, News, Research & Analytics, Subscriber Only / MDM Staff

Manufacturing expanded in November, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.
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The rate of growth in the sector however was down slightly compared with October. The PMI registered 50.8%, a decrease of 0.1 percentage point. A reading above 50% indicates manufacturing expanded; below 50% indicates a contraction.
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Still, strength in new orders paired with a recovery in production from last month, drove growth. Prices, driven higher by energy prices, are once again the major concern.

Read the full report

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December 2007

Plumbing/HVAC Distributor Noland Cuts Jobs

Transport/Logistics M& A Deals On Pace to Beat 2006

October Construction Spending 0.8% Below September

Airgas Makes Three Acquisitions

Parker Hannifin Buys Temp. Sensing Eqmt Supplier

Cooper Industries Buys S. Korean Supplier

Lincoln Electric Acquires Vernon Tool Co.

Manufacturing Expands at Slower Rate in November

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