June 5, 2008

Canadian Construction Permits Up in April

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

Source: Statistics Canada

The total value of building permits was up strongly in April as construction intentions rose in all provinces and in both the residential and non-residential sectors.

Contractors took out $6.4 billion worth of permits in April, up 14.5% from March and the highest level since October 2007.

In the residential sector, the value of building permits increased 13.4% to $4.0 billion, the highest value in six months. The increase was generated by a strong gain in the value of multi-family permits.

In the non-residential sector, the value of permits advanced 16.5% to $2.4 billion, due to strong commercial intentions.

Despite the fact that permits increased in …

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LLR Partners Buys Singer Equities, a Group of 5 Industrial Distributors

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

LLR Partners Inc. will buy Singer Equities, Inc., owner of five industrial rubber distributors.

The distributors are: Allied Rubber and Rigging, Hampton Rubber Company, National Hose and Accessory, PRC Industrial Supply and R/W Connection. Singer services a national customer base through its 11 branches located in Maryland, Maine, Pennsylvania, Virginia and Texas.

Singer was formed in 2005 after Allied Rubber and Rigging, Hampton Rubber Company and R/W Connection were spun out from the Indusco Group, a fabricator and supplier of wire rope and rigging equipment. Singer acquired PRC Industrial and National Hose and Accessory in 2006 and 2007.

Singer Equities sells hoses, belts, fittings, gasket materials and other specialty items.

LLR …

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Premier Farnell Sales Up 6% in 1Q

Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Premier Farnell, a UK-based industrial distributor, reported sales in the first quarter 2008 were up 6% to £199 million (US$389 million at current exchange rates).

Sales in China were up 57%, and sales in Eastern Europe and India were up 60%. Web sales were up 31% year-on-year. The distributor reported sales in mainland Europe were up double …

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Veyance Technologies Broadens Conveyor Belt Offering

Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

For the second time this year, Veyance Technologies, Inc., Birmingham, AL, is broadening its conveyor belt installation, splice and repair service footprint to support coal producers.

The manufacturer of Goodyear Engineered Products has agreed to buy National Belt Service, or NBS, based in Bessemer, AL, with additional operations in Wheeling and Charleston, WV, and Atlanta, GA.

NBS employs 75 associates and has annual revenue of $20 million.

In February, Veyance bought Monk Mining Supply, a coal mining conveyor belt service company based in Tazewell, VA.

Veyance said its entry into conveyor belt services for coal mines complements its existing network of authorized distributors. Our distributors are the core of our marketing strategy and that won’t …

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Staples Moves to Buy Corporate Express

Finance, Free, Mergers & Acquisitions, News, Operations, Paper Products & Packaging Distribution, Subscriber Only, Top Distributor Sectors / MDM Staff

Staples Inc. has bought a 12.3% stake in Corporate Express. The move is the latest in Staples’ bid to take over the global office supplies distributor.

Corporate Express announced June 5 it would meet with Staples to discuss the company’s increased offer of €9.15 per share for the distributor (roughly US$2.5 billion total). The bid follows previous offers, which were rejected by Corporate Express earlier this year.

Staples’ offer is contingent on Corporate Express shareholders’ rejection of a planned merger between Corporate Express and European office supplies distributor Lyreco SAS. The transaction was announced on May 21. According to a recent news release, the merger with Lyreco would create a €7.8 billion B2B player in Europe, North America and …

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