April 7, 2008

Airgas Buys European Supplier of Welding Eqmt.

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

Airgas, Inc., Radnor, PA, has acquired A&N Plant, a European-based supplier of new and reconditioned rotating, positioning, and welding equipment for sale and rent. The business had sales of $20 million for the year ended June 30, 2007.

The acquisition creates a new business unit of Red-D-Arc Limited, an Airgas company, a provider of welding, positioning, and related rental products and services in North America.

A&N Plant has an office in Old Amersham, Buckinghamshire, and facilities in St. Helens, Merseyside, England, and in Stellendam, The Netherlands. It operates in Europe, Asia, and the Middle East, serving a diverse customer base in offshore and onshore oil and gas, petrochemical, power generation, environmental, industrial plant, and steel fabrication …

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Construction Permits in Canada Fall in February

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

Source: Statistics Canada, www.statcan.ca

Construction intentions in Canada cooled for a fourth consecutive month in February, on the heels of a sharp decline in the value of building permits for non-residential construction in Ontario.

Municipalities issued $5.8 billion worth of building permits, down 1.0% from January. Intentions peaked in May and June 2007 at $7.0 billion.

February’s decline resulted from much lower non-residential construction intentions in Ontario. If the province were excluded, the total value of building permits nationally would have increased 9.8%, instead of declining 1.0%.

Nationally, a marked increase in residential intentions was not enough to offset a decline …

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Two More Bidders for Industrial Distribution Group

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

Industrial Distribution Group, Atlanta, GA, has two more suitors.

The company announced today that private equity firm Luther King Capital Management Corp., Fort Worth, TX, has made a competing bid for the distributor for $11.70 per share. The proposal represents a 13.6% premium to the $10.30 per share cash offer (or $113 million) made by Platinum Equity and accepted by IDG.

In a letter to Richard Seigel, chairman of the IDG board of directors, the firm said it currently owned 14.9% of IDG stock.

Another company -a strategic buyer known as Bidder D in IDG’s news release -has offered $11 per share. That company had participated in the original bidding phase after IDG announced it would consider being sold. IDG would not identify Bidder …

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Parker Hannifin Acquires Vansco Electronics

Companies, Finance, Free, Mergers & Acquisitions, News, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors / MDM Staff

Parker Hannifin Corp., Cleveland, OH, supplier in motion and control technologies, has acquired Vansco Electronics, a manufacturer of electronic controls, displays and terminals, communication and operator interfaces, and sensors. Vansco systems for mobile equipment, a primary Parker market, include key applications for agricultural, construction, material handling, bus, RV, and specialty truck equipment.

Vansco facilities in Canada, the U.S., Finland, Belgium, and the United Kingdom employ 1,005 people. In the fiscal year ending Aug. 31, 2007, Vansco achieved sales of $180 million. About 83 percent of Vansco’s sales are made in Parker’s Industrial North America reporting segment.

Vansco will become a part of the global operations of Parker’s hydraulic …

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April 7, 2008

Airgas Buys European Supplier of Welding Eqmt.

Construction Permits in Canada Fall in February

Two More Bidders for Industrial Distribution Group

Parker Hannifin Acquires Vansco Electronics

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