January 2008

Distribution’s Part in the Economy

Economic Trends, Free, Research & Analytics, Subscriber Only / Lindsay Young

Growth in overall macroeconomic activity as measured by Gross Domestic Product (GDP) and growth in the wholesale distribution industry are going to moderate in 2008. That was the message given by Adam Fein in a recent MDM Webcast, Wholesale Distribution Economic Outlook: Adam Fein’s First Look at 2008.” He said: “I believe they will remain positive but there are some significant risks.”

In addition to tackling some high-level economic issues, including the key dynamics behind today’s economy, the economic outlook and implications for key distribution markets, and what Webcast participants should consider as they plan where their company will go in the next year, Fein talked about the key part …

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Electrical Supplier Leviton to Acquire ControlThink

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

Leviton Manufacturing Company Inc., Little Neck, NY, producer of electrical and electronic wiring devices, has agreed to acquire ControlThink LC, a home and building control software and services company.

Operating as a separate, wholly-owned subsidiary, ControlThink will continue to serve its existing OEM partners and customers, while aligning with Leviton to expand the market for intelligent home control solutions, products and services.

Leviton manufactures over 25,000 different products for use in homes in the U.S. and Canada, and in commercial facilities, industrial plants and OEM …

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Canada Industrial Product Price Index Rises 0.6% in November

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

Source: Statistics Canada

In November, prices in Canada for manufactured products and raw materials were pushed up by surging petroleum prices.

From October to November, prices charged by manufacturers, as measured by the Industrial Product Price Index (IPPI), rose 0.6%, a marginal increase after six consecutive monthly declines. The rise in the index was caused almost exclusively by surging prices for petroleum and coal products.

On a 12-month basis, the IPPI declined 0.6%, continuing the downward trend. Declines in the prices for motor vehicles and other transport equipment, primary metal products and pulp and paper products were tempered by the steep increase in the prices for petroleum and coal products.

The exchange rate, …

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Emerson Sells Brooks Unit to Private Equity Firm

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

Emerson, St. Louis, MO, sold its Brooks Instrument unit to American Industrial Partners Capital Fund IV, L.P. for $100 million in cash.

AIP is a private equity investment firm focused on middle-market companies.

Brooks, headquartered in Hatfield, PA, provides flow measurement and control devices to the low flow application market, and principally serves the chemical and semiconductor industries. Its sales in fiscal 2007 were $90 million.

The sale of Brooks is representative of Emerson’s ongoing strategy to manage its business mix toward high-growth, high-return businesses that are strategic to its entire portfolio. Over the past 18 months, Emerson sold several small businesses which included its Western Forge hand tool unit and …

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Airgas Buys Pima Welding Supply

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

Airgas, Inc., Radnor, PA, has acquired Pima Welding Supply, Inc., an industrial gas and welding supply distributor in Tucson, AZ. The business has been integrated into Airgas West, one of the regional companies within Airgas.

Pima, which had annual sales of nearly $5 million in the 12 months ended June 30, 2007, provides Airgas West with an industrial cylinder fill plant that will help improve service to customers in the Tucson area. The second location, a retail store, will provide a presence on the north side of Tucson.

Airgas is a U.S. distributor of industrial, medical, and specialty gases, and hardgoods, such as welding equipment and supplies, safety products, nitrous oxide and dry ice, liquid carbon dioxide, process chemicals, refrigerants and …

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A.M. Castle Expands in the UK

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

A. M. Castle &Co., Franklin Park, IL, distributor of specialty metal and plastic products, has acquired Metals UK Group, a distributor and processor of specialty metals primarily serving the Oil and Gas, Aerospace, Petrochemical and Power Generation markets worldwide.

Metals UK Group has four processing facilities; two in Blackburn, England, including its headquarters, one in Hoddesdon North East of London and one in Bilbao, Spain. Metals UK Group reported revenues of $72 million for fiscal year 2007.

Sales outside of the UK comprise 25% of the company’s revenues and include customers in 36 countries throughout Europe, Asia, Australasia and the Americas.

Metals UK Group is complementary to our existing North American operations and provides an …

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Pro-Build Grows in Florida

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

Pro-Build Holdings, Denver, CO, has acquired Granger Lumber-Hardware Inc., Jacksonville, FL, according to the Jacksonville Business Journal. The company has two locations and sells lumber, millwork and roof trusses to contractors and remodelers.

Pro-Build added 13 locations in Florida in 2007, according to the …

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Barnes Aerospace Enters Revenue Sharing Program with GE

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

Barnes Aerospace, a business segment of Barnes Group Inc., has entered into a new aftermarket Revenue Sharing Program Agreement with General Electric Company. Similar to Barnes Aerospace’s other aftermarket RSPs that provide the exclusive right to supply designated aftermarket parts to GE for the life of the related engine program, this agreement relates to spare parts for the CFM56 and CF6 engine families.

Revenue Sharing Programs are excellent complements to our aftermarket maintenance, repair and overhaul operations and strengthen our portfolio across the stages of an engine’s life cycle,”said Gregory F. Milzcik, President and Chief Executive Officer, Barnes Group Inc.

The CFM56 engine powers short-, medium- and long-range aircraft. Twelve different …

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Airgas Acquires Two Distributors

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

Airgas, Inc., Radnor, PA, has acquired Smith Welding Supply &Equipment, Inc. and its affiliated company, Bayer Welding Supply, LLC. Six locations in the Detroit area have been integrated with Airgas Great Lakes, one of the regional companies within Airgas.

Smith and Bayer had combined annual sales of $16 million in calendar year 2006. Its central industrial gas fill plant in Ferndale, MI, supported branches in Wixom, Clinton, Detroit, and Auburn Hills, plus a location in Warren operating as Bayer Welding.

Airgas has also acquired Pacific Diazo Products Inc., Colton, CA, a distributor of aqua ammonia, anhydrous ammonia and related products and services. Pacific Diazo has been integrated into Airgas Specialty Products, a distributor of industrial ammonia …

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Construction Spending Up Slightly in November

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

Construction spending during November 2007 was estimated at a seasonally adjusted annual rate of $1,165.1 billion, 0.1 percent above October, according to the U.S. Census Bureau. The November figure is 0.1 percent below the November 2006 estimate.

During the first 11 months of this year, construction spending amounted to $1,076.2 billion, 2.5 percent below the $1,103.9 billion for the same period in 2006.

Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $860.7 billion, 0.7 percent below the revised October estimate.

Residential construction was at a seasonally adjusted annual rate of $484.9 billion in November, 2.5 percent below the revised October estimate. Nonresidential construction was …

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Avnet Acquires YEL Electronics in Hong Kong

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

Avnet, Inc. has acquired YEL Electronics Hong Kong Ltd. YEL, which was established in 1992, is a distributor of interconnect, passive, electromechanical and limited semiconductor components in the Asia region, representing more than 30 franchised suppliers.

YEL generated US$200 million of revenue in the 12 months ended December 2007 with over 80% from IP&E products. The company serves 2,000 customers in eight countries in Asia-Pacific. The acquisition also expands Avnet Electronics Marketing’s franchised line card with new IP&E suppliers in the region.

Harley Feldberg, president of Avnet Electronics Marketing global, noted that the acquisition is another significant step in Electronics Marketing’s strategy to accelerate growth: The IP&E distribution industry in …

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Manufacturing Contracts in December

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

Economic activity in the manufacturing sector failed to grow in December following 10 consecutive months of expansion, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.

The news follows the recent trend, which has been toward slower growth. However, December was apparently a very tough month as New Orders, Production and Employment were all below the breakeven mark of 50%.

Industries close to the housing market appear to be struggling more than others, and those involved in exports seem to be doing better. Slower demand appears to be more of a problem than excessive inventories based on the respondents’ comments.

For the full report, click …

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January 2008

Distribution’s Part in the Economy

Electrical Supplier Leviton to Acquire ControlThink

Canada Industrial Product Price Index Rises 0.6% in November

Emerson Sells Brooks Unit to Private Equity Firm

Airgas Buys Pima Welding Supply

A.M. Castle Expands in the UK

Pro-Build Grows in Florida

Barnes Aerospace Enters Revenue Sharing Program with GE

Airgas Acquires Two Distributors

Construction Spending Up Slightly in November

Avnet Acquires YEL Electronics in Hong Kong

Manufacturing Contracts in December

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