Genuine Parts Co., the parent of Motion, reported that the distributor’s 4Q sales of $1.4 billion were down 3.3% year-over-year and represented 34% of the company’s revenues in the period.
Eric Smith
Senior Editor Eric Smith is an award-winning business journalist whose coverage focus includes economic news and insights, industry trends, M&A, and analysis of small businesses and public companies across the wholesale distribution marketplace. Reach him at [email protected] or 720-207-0335.
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Blockbuster deal involves Rexnord performing a tax-free spin-off of PMC to its shareholders and then immediately combining it with Regal in a Reverse Morris Trust transaction.
Company will divest its majority interest stake in its High Pressure Solutions segment to the private equity firm American Industrial Partners for $300 million.
Tim Watson will continue to lead the company under the Watson Supply banner.
MRO distributor appoints seven to leadership roles in various divisions and regions around the country.
Miami-based HVACR distribution giant Watsco sees 2021 as optimal for ramping up existing growth drivers in hopes of continuing at its record-setting pace.
This latest transaction is part of WESCO’s commitment to divest its legacy Canadian Utility and Datacom businesses in connection with Canadian law.
In the fourth quarter, sales decreased 24.4% as the company also reported a loss of $11 million in the period.
For the fourth quarter, sales were up 7.7% from same period in 2019 as company posted profit growth for both the quarter and the full year.
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Feb. 1 to Feb. 5 increased 14.1%, continuing a normal growth trend.
Wholesale trade shows improvement from same month in 2019 and from the previous month of November, according to the latest report from the U.S. Census Bureau.
Building materials distributor announced in December 2020 that it was unloading this division to PE-backed Foundation Building Materials for $850 million.
Latest addition to Würth’s portfolio will join its new construction services business division, Würth Construction Services.
Kathy Mazzarella of Graybar, Debbie Weitzman of Cardinal Health Inc. and D.G. Macpherson of Grainger spoke on a National Association of Wholesaler-Distributors Digital Summit panel about how they’ve led their businesses over the past year and how lessons learned during COVID-19 can help influence the industry.
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Mark Fisher, recently appointed CEO, is eyeing continued growth across the portfolio.
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For the fourth quarter, sales were also up big — 97% — thanks to its market-shifting acquisition last year.
Building materials distributor also reported a profit of $71 million, up significantly from a profit of $18.2 million the same quarter a year ago.
And new orders placed in December marked a 40% increase from the previous month, according to the most recent U.S. Manufacturing Technology Orders report.
Latest addition to SRS Distribution’s portfolio operates 11 locations across Southern California.
For the full year, the goods and services deficit increased $101.9 billion, or 17.7%, from 2019.
