It was the third decline in the past four months, and much sharper than December’s.
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The plumbing and HVACR distribution giant also updated its plans to ‘domicile’ its ultimate parent company in the U.S. to reflect operations and leadership.
Based in Orange, VA, HBS produces and distributes turkey structural building components from its distribution center in Bristow, VA.
The co-op and hardware distributor will create a combined entity serving DIY entrepreneurs, contractors and distributors in the U.S. Midwest.
It marks the OEM fasteners distributor's 12th acquisition since 2018 and the fifth since 2022.
Both are distributors of commercial entry solutions and systems integration services.
It followed a sizeable jump in January, reflecting broad weakened industrial demand.
The distributor saw healthy 4Q organic growth, too, with comparable sales up 5.1% excluding GIC's May 2023 acqusition of Indoff.
Los Angeles-based Progressive had 2023 annual sales of more than $400 million.
The specialty building products distributor saw gross margin improve 40 bps year-over-year, though EBITDA fell by a larger margin.
As distribution increasingly becomes the focus of state regulation and legislation, HARDI expands its advocacy efforts into state affairs.
Dragged down by building materials and supplies, it followed a 0.3% increase in December.
Driven by a sharp decline in commercial aircraft orders, it was the sharpest one-month drop since April 2020’s 19.3%.
Over 515 attendees gathered for the 2024 AD eCommerce & Marketing Summit to discuss digital and marketing leadership, products and marketing.
The company agreed to 19 acquisitions during 2023, respresenting a total investment of $593 million.
It will divest the industrial MRO unit out of Wesco, while considerably bolstering Vallen's product and services offerings.
The ISA24 conference is rapidly approaching on April 15-17 in Charlotte, NC. As a primer, we chatted with CEO Brendan Breen on what to expect from the agenda, what he's hearing from ISA members and what gives him hope about the industry.
The Power Transmission Distributors Association added a bearings distributor, a manufacturer and an associate to its membership.
Building Materials Distribution sales improved 3% year-over-year during 4Q, a stark improvement from a 15% decline in 3Q.
In 2023, the distributor paid down $160 million of debt and reduced inventory by $100 million while maintaining fill rates above 94%.
