Though not where it should be in a typical July, distribution M&A activity reached double-digit transactions for a second straight month. Our M&A Roundup recaps deals from LINC Systems, Core & Main, SRS Distribution and more.
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
The severity of the coronavirus crisis has exceeded that of the Great Recession more than 10 years ago, and while distributors haven’t been spared the impact of COVID-19, the industry is faring better than most.
Dayton, Ohio-based distributor Winsupply names Jeff Dice president, Equity Group, and Chris Schrameck, VP, information technology.
MDM’s new report, Markets Forecast, offers quarterly revenue projections for the wholesale distribution industry, plus breakouts for select categories, for the current calendar quarter and the next fiscal year. The inaugural Forecast looks at post-pandemic projections for distributors as a whole, plus specific sectors.
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MDM’s quarterly survey in partnership with investment banking firm Baird reveals that distributor revenues decelerated sharply in 2Q but not as bad as feared at the beginning of the pandemic shutdown. One consensus among more than 550 participants: Distributors began rethinking the way they manage talent.
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Increase of manufactured durable goods is second in a row following the double-digit growth in May, which had been preceded by two decreases during the height of the coronavirus crisis.
Grainger’s sales dipped 2% last quarter as pandemic-related sales (e.g., PPE) again offset softness in its traditional product line, but non-pandemic sales are showing signs of life.
Harrington Industrial Plastics announced that it has completed the acquisition of Aetna Plastics in partnership with Aetna management.
Industrial fastener and packaging distributor LINC Systems, a platform of private equity firm Center Rock, adds California company to portfolio.
PRI moderates into the mid-single digits with three participants posting revenue gains during the week of July 13-17.
B&D Industrial, a founding member of AD Bearings and Power Transmission division, joins second division to enhance presence with industrial and safety product customers.
But year-to-date sales grow 2.6% from same period in 2019 as company posts “record, double-digit sales and profit growth rates in June,” according to Watsco's CEO.
Industrial distributor estimates that MRO market declined 14% to 15% during the quarter even as company gained share in the U.S.
Latest report shows U.S. cutting tool consumption down 4.4% from previous month of April, while year-to-date total is down 18.8% from same period of 2019.
Swiss company also announces the appointment of Theodor Swedjemark, who will join the executive committee of ABB as chief communications officer.
Electrical distributor announces that Layne “Lucky” DeMoss was promoted to branch manager for Conroe facility and TJ Horny will join the Houston branch as sales leader.
New 625,000 square-foot site in the city of El Paso — the second facility coming to Texas in 2021 —will create more than 700 new, full-time jobs.
In lieu of annual conference, which was to take place this October in Atlanta, the organization will offer virtual networking opportunities and resume the live event in 2021.
Company’s profit for the second quarter cut in half to $75.4 million.
Bearing manufacturer sees sales drop 16.6% in first six months of 2020 as soft demand environment hits top-line performance.
