Industrial and flow technologies sales at Pentair were up 17% compared to sales for the same period last year.
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.
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Livers, who has been with Sonepar since 2017, will lead the company’s subsidiary that serves customers in Florida and Georgia.
Manufactured durable goods, up 13 of the last 14 months, followed a 3.2% May increase.
All divisions at the company posted a strong quarter, with safety and industrial sales growing 22.4% in the period.
The HVACR distributor is on the hunt for businesses to buy, and on its latest earnings call, the CEO outlined why the company would be a good partner for anyone looking to sell.
The plumbing distributor has opened its largest location in the area; the new store will also offer fire protection fabrication services.
Hal Grossman is being promoted to president on Aug. 1 and longtime COO Kevin Rahrig will retire on Dec. 24.
The transaction, announced earlier this month, “supports L&W Supply’s overall growth strategy,” according to the company’s president.
RBC is paying $2.9 billion to acquire the international manufacturer of highly engineered precision bearings and components for the industrial, defense and aerospace industries.
Company’s profit for the second quarter also spiked, growing 31.7% to $99.3 million.
The manufacturer reported a strong second quarter, as profit almost doubled to $1.7 billion.
The Swiss company also reported that its profit grew to $752 million from $319 million in the period.
In addition to setting a revenue record of $1.8 billion, the pool supply distributor saw profit increase nearly 65% for the quarter.
With the addition of the Springfield, Illinois-based distributor, Sonepar is expanding its footprint in the Midwest.
Year-to-date sales grow 26.3% from same period in 2020 as company delivers a “blowout” quarter, said the distributor’s CEO.
Latest Chicago Fed National Activity Index (CFNAI) shows that three of the four broad categories of indicators used to construct the index made positive contributions in June, but two categories declined from May.
JGB, a portfolio company of the private equity firm HCI Equity Partners, has completed its first add-on acquisition with the addition of Toronto-based Industrial, Petroleum and Mining Supplies.
Industrial distributor is bringing a 142,000-square-foot DC to Newtown, Connecticut, in the first half of 2022.
CEO says expansion will allow BlackHawk” to reach more customer production facilities, expand products and services that end-users value, and invest in new effective sales channels.”
