4Q revenues for that segment dipped 1.4% year-over-year.
Latest In Wajax Corp.
Companywide, Wajax said 2023 third quarter revenue was $369.13 million (USD), up 8.3% over the same period in 2022.
It's the distributor's second deal in as many months, further boosting its Industrial Parts and Engineered Repair Services business units.
The distributor also announced a new leader for its Industrial Parts and Engineered Repair Services segments.
Polyphase Engineered Controls' addition to Wajax expands its subsidiary's electrical solutions portfolio and In-house capabilities.
See the key financial figures reported by five major industrial distributors.
Fourth quarter revenue in Wajax's Industrial Parts segment rose 26.9% year-over-year.
The Canadian industrial distributor says it continued to see overall strength in its backlog, which increased to more than $558 million.
Distribution Solutions Group had its inaugural earnings report following the April 1 merger of Lawson Products, TestEquity and Gexpro Services.
Tundra Process Solutions Ltd. acquired the valve business Powell Canada Inc., which specializes in valve sales, service and support.
The industrial distributor reported 2022 first-quarter revenue of $439.5 million, up from $387.1 million in 1Q 2021.
Canadian industrial service provider Wajax Corporation on Tuesday announced that Mark Foote will retire as president and CEO on Dec. 31.
The expansion of the relationship between Wajax and Hitachi is expected to strengthen the competitive positioning of both companies in the Canadian construction and mining markets.
Sales for the Canadian distributor increased 8.2% in the first six months of 2021.
Wajax's addition of Alberta-based distributor for C$99.1 million (US$77.7 million) is expected to “provide meaningful growth in the corporation’s Engineered Repair Services and industrial parts categories.”
