The January PMI registered 58.7%, down 1.8% from the December reading of 60.5% but still marking an eighth consecutive month of expansion.
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 eric@mdm.com or 720-207-0335.
Posts By Eric Smith
In a deal valued at $2.8 billion, Eaton is investing heavily to expand its Aerospace business’s fuel and environmental systems offerings.
The company said this acquisition “fits strategically with the company’s portfolio of air compression technologies and operates under the trade names MD Pneumatics and Kinney Vacuum Pumps.”
The company announced in January it was selling the division to the private equity firm Clayton, Dubilier and Rice for £308 million (US$417.5 million).
“Companies don’t transform, leaders do,” said Peter Sheahan in his keynote to kick off NAW’s Digital Summit. We recap his playbook for how distribution execs can drive transformation within themselves — and their businesses.
Firm completes $1.4 billion acquisition of distributor from an affiliate of PE firm Lone Star Funds, which had acquired FBM in 2015 and maintained a majority ownership since the company’s 2017 IPO.
Eaton says the addition of the power and connectivity solutions provider will “enhance the breadth of our edge computing and distributed IT product portfolio.”
The National Association of Wholesaler-Distributors this week elected Michael Medart, president and CEO, Medart Engine & Marine, as its 2021 chairman.
Building materials company 84 Lumber continues to grow its real estate development team with promotion of Bethany Cypher.
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Jan. 18 to Jan. 22 increased 3.9%, continuing a normal growth trend.
For the entirety of 2020 — a topsy-turvy year due to COVID-19 restrictions and recovery — real GDP decreased 3.5%.
The U.S. Census Bureau has released advance indicators showing that the international trade deficit and wholesale inventories both declined in December.
Like most companies, Applied continued to be impacted by the COVID-19 crisis and saw year-to-date sales fall 11.3% over the same period in 2019.
Year to date, sales increased 2.5% to $9.4 billion for the Phoenix, Arizona-based electronics distribution giant Avnet.
United Rentals also reported that sales for the fourth quarter of 2020 fell 10.1% compared to the same period of 2019.
Former Snap-on exec will lead the buying group’s Industrial and Safety–U.S. and Safety Network divisions.
Increase of manufactured durable goods is the eighth in a row since May; this growth period was preceded by two decreases during the height of the coronavirus crisis.
Though revenue was flat, the diversified manufacturer posted double-digit profit growth in a year dominated by COVID-19 and pandemic-related product sales.
Bill Matthews replaces Pete Biocini, “who passed away after a brief illness in November,” the company said in an email.
Industrial automation and digital transformation provider names Scott Genereux and Brian Shepherd to the company’s executive leadership team
