News
Breaking news in Wholesale Distribution
Wolseley plc, UK-based distributor of plumbing and heating products to professional contractors and a supplier of building materials, announced two bolt-on acquisitions for an aggregate consideration of 9 million pounds Sterling (US$18.72M). In a full year, these bolt on acquisitions are expected to add approximately 14 million pounds (US$29M) to total revenue.
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Since the beginning of the financial year on Aug. 1, 2006, a total of 43 bolt-on acquisitions in Europe and North America have been completed. These 43 acquisitions are expected to add 671 million pounds (US$1.4B) to Group revenue in a full year.
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North America
On July 30, 2007, Ferguson acquired Fire Fab Inc. Fire Fab is a distributor and fabricator of fire safety and suppression …
Fairmont Supply Company, Canonsburg, PA, distributor of maintenance, repair and operating (MRO) supplies, has acquired Florida-based Piping and Equipment Inc.
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Piping and Equipment Inc. is a pipe, valve and fittings supplier with eight locations in Florida, Alabama, Louisiana and Texas. As a wholly-owned subsidiary of Fairmont Supply, Piping and Equipment will continue to operate under its current name.
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The president of Fairmont Supply Company, Rich Layton, said: This acquisition supports our long-term business plan to strategically grow within key markets throughout the U.S.”
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Fairmont Supply Company operates 15 service center facilities and nine on-site stores management locations across the U.S. and serves customers in the mining, steel, …
Kaman Corp. reported sales for the second quarter 2007 were $320 million, an increase of 9.2% from the second quarter 2006. Profit was $10.1 million, an increase of 34.4%.
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In the first half of 2007, the company reported sales of $637.7 million, an increase of 8.1% over the same period last year. Profit was $20.1 million, up 50.2%.
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Aerostructures sales for the second quarter were $23.3 million, compared to $17.1 million for the second quarter of 2006. Segment net sales for the first half of 2007 were $48.5 million, compared to $34 million for the first half 2006.
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Fuzing sales for the second quarter were $24 million, compared to $14.6 million in the same period a year ago. The increase was due primarily to a significant increase in shipments of …
Interline Brands Inc., Jacksonville, FL, distributor of maintenance, repair and operations products, reported sales in the second quarter ended June 29, 2007, were up 33.1% over the same period a year ago.
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Sales for the quarter were $313.2 million. Average organic daily sales grew 4.2%.
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Though much of its overall growth was a result of the acquisition of AmSan in July 2006, Interline also reported strong sales performance in its facilities maintenance MRO businesses, which grew at 17.8%.
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The professional contractor business fell 9.6%, and Interline’s specialty distributor business sales declined 10.6% from the comparable period.
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We invested approximately $1 million during the quarter in organic growth initiatives. We added field …
Barnes Group Inc., Bristol, CT, reported sales increased 16% to $360 million in the second quarter ended June 30, 2007. Profit was up 58%.
Sales at Barnes Aerospace were $92.4 million in the second quarter 2007, up 25% as original equipment manufacturer sales of $62.3 million grew 21% and aftermarket sales of $30.1 million were up 36%.
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Sales at Barnes Distribution were $150.7 million in the second quarter of 2007, up 20%, including $22.2 million of incremental sales from the KENT acquisition and organic sales growth of $1.3 million. The modest increase in organic sales is primarily a result of Corporate and Tier II account sales increases of 10% and 24%, respectively. Operating income at Barnes Distribution was $7.5 million in the second quarter, down 16% from …
Forbes is reporting that Rexel Chairman Jean-Charles Pauze said in the electrical distributor’s second-quarter conference call that the company has 30 potential acquisitions in its sights, with total revenues of 1 billion euro.
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The list of potential acquisitions are weighted toward emerging markets.
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Thanks to acquisitions, Rexel’s second-quarter rose nearly 30% to US$3.73 billion (2.729 billion euros). Organic growth was 3.3%.
Sales in the first half of 2007 were up 30% to US$7.3 billion (5.3 billion euros). Organic growth was 4.5%.
Strong sales in Europe and Asia-Pacific more than offset the slowdown in North America,” Pauze said in a release.
By region:
- Asia-Pacific: …
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Industrial Distribution Group, Inc., Atlanta, GA, reported second-quarter sales were $132.6 million, down from $137 million in the same period a year ago. Profit was $0.1 million.
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For the six months ended June 30, 2007, sales were $267.7 million, compared with $277.3 million in the same period a year ago. Profit was $1.5 million, about half the profit of a year ago.
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For the second quarter of 2007, revenues from Flexible Procurement Solutions, IDG’s integrated supply business, were $81.8 million, an increase of 1.7%. Revenue from FPS comprised 61.7% of IDG’s total sales for the second quarter of 2007 compared to 58.7% for the comparable period of 2006.
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Year-to-date 2007, FPS revenues increased $1.9 million or 1.2%. At June 30, 2007, the company …
Curtiss-Wright Corporation, Roseland, NJ, has acquired Benshaw Advanced Controls & Drives, Pittsburgh, PA, for $102 million in cash.
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Benshaw is a supplier of motor control and protection product solutions for original equipment manufacturers (OEMs) and industrial customers. The business will become part of Curtiss-Wright’s Flow Control segment.
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The addition of Benshaw to the Curtiss-Wright family of companies provides a major opportunity to expand our product offerings in the commercial power, control electronics and systems markets,” said Curtiss-Wright CEO Martin R. Benante. “Benshaw’s expertise in electronic motor control and protection technology will support our growth in high speed motors and AP1000 pumps, as well as providing a low-cost manufacturing …
Lawson Products, Inc., Des Plaines, IL, a distributor of services, systems and products to the MRO and OEM marketplaces, reported second-quarter sales from continuing operations were $129.2 million, comparable to the prior-year quarter.
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The company reported a net loss of $0.3 million, compared to profit of $3.2 million in the second quarter 2006.
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Second quarter 2007 results include severance costs of $5.5 million related to several executive departures.
Some Lawson sales agents were recently indicted on …
Airgas, Inc., Radnor, PA, has acquired Gartech Refrigerant Reclamation Center, Inc., with locations in Garland, TX, and Oklahoma City, OK.
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Airgas Specialty Products, in the distribution of industrial ammonia, process chemicals, and refrigerants, has integrated Gartech’s operations, which generated almost $2 million in revenue in 2006.
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Airgas, Inc. is a distributor of industrial, medical, and specialty gases, and hardgoods, such as welding equipment and supplies. It has more than 1,100 locations, including branches, retail stores, gas fill plants, specialty gas labs, production facilities and distribution centers in the …
