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2007

Inflation by Commodity Group – Second Quarter 2007

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These 16 select product groups provide a snapshot of inflation trends in industrial and construction channels. Second quarter 2006 is compared with second quarter 2007, and the first quarter 2006 with the second quarter 2007.

Metals & Metal Products
Plumbing Fixtures & Fittings
Fasteners
Hardware
Hand & Edge Tools

Chemicals & Allied Products
Adhesives & Sealants
Industrial Gases

Machinery & Equipment
Mechanical Power Transmission Equipment
Pumps, Compressors & Equipment
Electrical Machinery & Equipment
Ball and Roller Bearings
Metal Valves, Except Fluid Power
Industrial Material Handling Equipment
Fluid Power Equipment

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Monthly Wholesale Trade: May 2007

Economic Trends, Research & Analytics, Subscriber Only /

May 2007 sales of merchant wholesalers, except manufacturers’sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $357.2 billion, up 1.3 percent from the revised April level and were up 8.7 percent from the May 2006 level. The April preliminary estimate was revised upward $0.8 billion or 0.2 percent. May sales of durable goods were down 0.5 percent from last month, but were up 4.2 percent from a year ago. Compared to last month, sales of motor vehicle and motor vehicle parts and supplies were down 5.3 percent. May sales of nondurable goods were up 2.9 percent from last month and were up 13.1 percent from last year.

Inventories. Total inventories of merchant wholesalers, except …

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Commentary: It’s Time to Shed Your Unprofitable Business

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Despite pressures from commodity price increases the past few years, many distributors are finding it hard to raise prices. The traditional method of price increases has too often been to throw five percent (or another guesstimate) against the wall to see if it sticks.

The authors of the article in this issue argue that there is a better, more profitable approach. The solution is to develop products and services that target unique segments with very specific offers. For most distributors, this involves developing a range of offers from the high end (with all the bells and whistles) to the low end (no frills).

The key, the authors say, is to segment the market and build specific offers based on your unique ability to drive economic value (e.g. revenue growth or cost …

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MDM News Digest 3714

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Two major distributors of industrial and oilfield PVF supplies, McJunkin Corporation, with nearly $2 billion in annual revenues,&nbsp ; and Red Man Pipe and Supply Company, nearly $1 billion in annual sales, have announced a merger of equals.” Charleston, WV, and Tulsa, OK , will serve as co-headquarters for the new company. McJunkin Corporation CEO and President H.B. Wehrle III and Red Man Pipe and Supply Company President and CEO Craig Ketchum will serve as Co-CEOs for the new company.&nbsp ; More …

Wolseley plc has reported it will close 24 more Stock Building Supply branches, primarily in the Midwest. The closures include a 370 headcount reduction. The announcement comes after …

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MDM News Digest 3714 Read More »

Distribution Financial Metrics and Trading Multiples

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This table highlights key financial metrics and trading multiples for 30 publicly traded distributors in the industrial and building products industries. Download this data below. Also find graphic illustrating median EBIDTA multiples for the same distribution companies.

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<These materials,&nbsp ; prepared by Robert W. Baird & Co. for MDM,&nbsp ; are for informational purposes …

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MDM July 25, 2007

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This is the pdf of this issue of Modern Distribution Management. Apply the full $24.95 pay-per-view cost toward an annual subscription (within 30 days of purchase), which includes two issues a month plus access to more than six years of online archives and market data. Call 1-888-742-5060 or email [email protected] to …

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MDM July 25, 2007 Read More »

Airgas Sales Rise 18% in 1Q

Companies, Free, Gases & Welding Equipment, News, Subscriber Only, Top Distributor Sectors /

Airgas, Inc., Radnor, PA, U.S. distributor of industrial, medical, and specialty gases, welding, safety, and related products, reported sales increased 18% in its first quarter ended June 30, 2007. Sales were $915 million. Profit was up 34%.
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Acquisitions accounted for 11% of the first-quarter sales growth. Same-store sales increased 7%, with hardgoods up 6% and rent up 8%.
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We had an outstanding quarter. We continue to see good growth in non-residential construction and energy markets, and our strategic products are also performing well,” said Airgas CEO Peter …

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Watsco Sales Down 6% in First Half

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

HVAC distributor Watsco, Inc., Coconut Grove, FL, reported sales decreased 7% to $471 million for the second quarter ended June 30, 2007.
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Revenues in the first six months declined 6% to $842 million. Profit for the first six months was $35.4 million, down from the $41.8 million recorded in the same period a year ago. New branches added $21 million of revenue during the first half of 2007.
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The Watsco network has expanded by 23 locations over the past 12 months, with a working capital investment related to these network expansion activities of $18 million as of June 30, 2007.
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Watsco recently announced it would acquire ACR Group Inc. , which had $240 million in sales in 2006. It has 54 locations in 10 …

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Simpson Strong-Tie Buys Swan Secure Products

Fasteners, Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors /

Simpson Strong-Tie Company Inc. has purchased Swan Secure Products Inc., Baltimore, MD, a manufacturer of stainless steel and other fasteners, for $43.5 million in cash. Swan Secure has locations throughout the U.S.

Simpson offers a line of wood-to-wood, wood-to-concrete, and wood-to-masonry connectors and fastening systems, and pre-fabricated shearwalls. Simpson also sells adhesives, mechanical anchors and powder actuated tools for concrete, masonry and …

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Platinum Equity to Buy Ryerson for $2B

Finance, Free, Mergers & Acquisitions, Metals Service Centers, News, Subscriber Only, Top Distributor Sectors /

Platinum Equity has agreed to acquire Ryerson Inc., Chicago, IL, for $2 billion, which includes the assumption of debt. The price represents a 15% premium over Ryerson’s closing share price on Feb. 31, 2007, the day Ryerson announced it was considering strategic alternatives.

Ryerson is a distributor and processor of metals in North America, with 2006 revenues of $5.9 billion.
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With the transaction, Ryerson will go from a public to a private company.
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The merger agreement allows Ryerson to solicit additional proposals from other potential acquirers through Aug. 18, 2007.
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When Ryerson announced it was considering strategic alternatives for the company, 50 potential acquirers were identified and contacted, including foreign and domestic …

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Sumitomo Electric Carbide Buys Master Tool

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

Sumitomo Electric Carbide Inc., Mount Prospect, IL, has acquired cutting tool manufacturer Master Tool, Grand River, OH.
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Master Tool specializes in the development of custom tooling to machine critical features on engine blocks, cylinder heads, connecting rods, crank shafts, transmission cases and other automotives parts.
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Sumitomo manufactures metal cutting tool …

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Anixter 2Q Organic Growth at 17%

Companies, Electrical, Free, News, Subscriber Only, Top Distributor Sectors /

Anixter International Inc., Glenview, IL, distributor of communication products, electrical and electronic wire & cable and a distributor of fasteners and other small parts, reported sales of $1.51 billion in the second quarter ended June 29, 2007, up 22% from the year-ago period.
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Profit for the second quarter increased 31% to $64.6 million. Organic growth for the second quarter was 17%.
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For the six-month period ended June 29, 2007, sales were $2.84 billion, up 22%, and profit was $118.2 million, up 46%.
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Factors influencing overall sales included:

Anixter 2Q Organic Growth at 17% Read More »

Kendall Electric Buys Roden Electric

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

Kendall Electric has purchased Roden Electric, an electrical distributor in the South Central U.S. with more than $120 million in annual sales.

Kendall Electric has more than $400 million in annual sales. It serves the Industrial, OEM, and Construction markets.

Roden will continue under the Roden brand name.

Investment banking firm Vetus Partners advised on the …

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Myers Industries Approves Acquisition by Private Equity Firm

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

Shareholders of Myers Industries, Inc., Akron, OH, has approved the plan of merger, where Myers Holdings Corp., controlled by GS Capital Partners, would acquire the polymer product manufacturer and distributor of tools, equipment and supplies for $1.1 billion, including the assumption of debt.
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The company had sales of $780 million in 2006.
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GS Capital Partners is part of Goldman Sachs & Co.’s Principal Investment Area in the Merchant Banking …

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Womack Machine Supply Buys FPS Technologies

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

Womack Machine Supply Company has acquired Birmingham, AL-based FPS Technologies.

FPS distributes many of the same product lines as Womack (Bosch Rexroth, Haskel, Hydac, Hydraforce) and operates a hydraulic repair center near Birmingham . The industries they serve include Automotive, Steel, Wood Products, Material Handling and Marine.

The combination of both companies allows Womack Machine Supply to expand distribution and service of fluid power and automation products into Alabama, Mississippi, and the Florida panhandle.

Womack Machine Supply is an industrial distributor of hydraulic, …

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M& A at a Record High

Finance, Free, Mergers & Acquisitions, Subscriber Only /

Last week continued to be a blockbuster for M & A, with a strong showing by strategic players in the industrial and construction arenas: $400M Kendall Electric will buy $120M RodenLewis-Goetz has acquired Samson IndustrialSaint-Gobain will purchase Norandex.

A recent survey shows that a record $2.7 trillion was spent worldwide on mergers and acquisitions in the first half of 2007 (story). Total mergers in the first half are 67% …

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Lewis-Goetz Acquires Samson Industrial

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

Lewis-Goetz and Company, Inc., Pittsburgh, PA, has acquired Samson Industrial, expanding its reach further into the Southeast and solidifying its presence in the Gulf Coast.&nbsp ;

Samson Industrial is a distributor and fabricator of specialty industrial supplies specializing in fluid and material conveyance, fluid sealing, vibration and dampening, fastening, personal safety and industrial tools. Samson has 15 locations, including its headquarters in Tulsa, OK.

Lewis-Goetz is a distributor of fabricated industrial rubber products including industrial, hydraulic and metal hose, conveyer belts, gaskets and seals, and related accessories.

Private equity firm Audax Group recent bought Lewis-Goetz, which, with recently acquired Goodall Rubber …

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PT/MC Distributors Report Rebound in Sales

Free, News, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors /

The Power Transmission Distributors Association released May 2007 month-end trend data for distributors and manufacturers of power transmission/motion control (PT/MC) products.
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Following two months of declining sales, U.S. distributors’sales of PT/MC products rebounded with a 2.4 percent increase from April to May.&nbsp ; Year-to-year comparisons remained positive with sales in May 2007 coming in 6.4 percent higher than in May 2006.&nbsp ; Accounts receivable collection days declined 2.1 percent when compared to April.&nbsp ; The May 2007confidence index for U.S. distributors remained unchanged for the third month in a row at 6.6 (on a 10-point scale).
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Canadian distributors’sales of PT/MC products on a month-to-month comparison mirrored the performance of …

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Wesco Sales Increase 13.6% in 2Q

Companies, Electrical, Free, News, Subscriber Only, Top Distributor Sectors /

WESCO International, Inc., Pittsburgh, PA, distributor of electrical MRO products and construction materials, reported sales of $1.5 billion for the second quarter 2007, an increase of 13.6% from the same period a year ago. Organic sales matched last year’s second quarter.

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Profit was $57.1 million, up slightly from the comparable 2006 quarter.
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Wesco also announced it has closed on the acquisition of Cascade Controls Corporation, a distributor of automation and controls in the Northeast with annual sales of $11 million. The acquisition allows Wesco to better serve its OEM customer base.
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Wesco reported that end-market activity was slower than expected during the quarter, slowing organic sales growth. The shortfall resulted primarily from …

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Reliance Steel Sales Grow 22% in 2Q

Free, Metals Service Centers, News, Subscriber Only, Top Distributor Sectors /

Reliance Steel & Aluminum Co., Los Angeles, CA, reported sales for the second quarter 2007 were $1.9 billion, an increase of 22% compared with the same period a year ago. Profit was $122.8 million, also up 22%.
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For the six months ended June 30, 2007, profit was $234.5 million, up 36% from the same period in 2006. Sales for the 2007 year-to-date period were $3.74 billion, an increase of …

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Reliance Steel Sales Grow 22% in 2Q Read More »

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