News
Breaking news in Wholesale Distribution
April 2007 sales of merchant wholesalers, except manufacturers’sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $351.9 billion, up 1.3 percent from the revised March level and were up 8.8 percent from the April 2006 level. The March preliminary estimate was revised upward $1.1 billion or 0.3 percent.
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April sales of durable goods were up 0.8 percent from last month and were up 7.8 percent (+/-2.0%) from a year ago. Compared to last month, sales of hardware, and plumbing and heating equipment and supplies were up 2.7 percent.
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April sales of nondurable goods were up 1.8 percent from last month and were up 9.7 percent from last year. Compared to last month, sales of …
Private equity firm Audax Group has acquired industrial rubber distributor Lewis Goetz and Company Inc., Pittsburgh, PA. Lewis-Goetz operates from 48 locations throughout the U.S. and Canada.
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It sells industrial, hydraulic, and metal hose, conveyer belts, gaskets and seals, and related accessories and services.
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We are excited to have Audax Group as our partner,” said David R. Goetz, Lewis-Goetz CEO. “Their experience sourcing and integrating add-on acquisitions will be an important asset for us as we continue to grow our business.”
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Vetus Partners, featured in a recent MDM audio conference, advised Lewis-Goetz.
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Audax recently purchased UTEX Industries, Inc., Houston, TX, a manufacturer of complex gaskets and highly engineered …
Pro-Build Holdings, Denver, CO, supplier of building materials to professional contractors, has purchased The Dunn Corporation, a Daytona Beach, FL-based distributor of lumber, millwork, building products and Overhead Door Company systems in Central and East Coast Florida.
The Dunn Corporation is very excited about the opportunity to join the Pro-Build family of companies as we see substantial opportunities for our team members,” said Sam Dunn, president, and former chairman of the NLMBDA. “& hellip; Because the employees are stockholders through ESOP ownership, they will share in the proceeds of the sale just as family members. It has always been the feeling of Barry and I that our people are our most important asset.
Dunn Lumber employs more than 120 people …
Dana Corporation, Toledo, OH, received approval from the U.S. Bankruptcy Court for the Southern District of New York to sell two businesses that make up its fluid products unit.
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Its fluid products hose and tubing business will be sold to Orhan Holding A.S., a Turkish industrial firm and joint-venture partner of Dana. Orhan will pay $85 million.
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Dana’s coupled products business will be sold to Coupled Products Acquisition LLC, a wholly owned subsidiary of Wanxiang (USA) Holdings Corporation.
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Dana expects to close the sale of both businesses by the end of July 2007.
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Dana is in 28 countries and reported 2006 sales of $8.5 billion, with more than half of this revenue derived from outside the U.S. …
Applied Industrial Technologies, Cleveland, OH, distributor of bearings and related products, has combined its Applied Maintenance America and Fluid Power Connection catalogs, as well as added more than 10,000 new and expanded products. The catalog will be available in July 2007 and can be reserved online at www.applied.com/catalogrequest.
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Applied said it combined the two catalogs in response to requests from customers to provide a one-stop source for the MRO parts that Applied supplies. The 07/08 Applied Industrial Technologies Product Catalog offers nearly 40,000 parts from more than 100 suppliers, including 20,000 bearings and power transmission parts and almost 9,000 fluid power products.
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The new Applied catalog includes comprehensive product lines …
JVA Partners has acquired Kennedy Manufacturing Company, Van Wert, OH. Kennedy manufactures industrial tool storage products and medical carts.
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In the first half of 2005, Kennedy had emerged from Chapter 11 bankruptcy protection. The 100-year-old manufacturer had been hit hard by a tough manufacturing economy, global competition and tighter requirements with its bankers. It also faced rising steel prices.
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JVA Partners is a strategic investment company that has acquired a number of manufacturing companies throughout the Midwest. One of its holdings, HMC Holdings LLC dba Homak, is also in the tool storage business.
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We are excited about the prospect of adding Kennedy Manufacturing to our family of companies,” said John Veleris JVA’s Chairman. …
UK-based Premier Farnell plc, global distributor of electronic MRO products and specialist services in Europe, North America and Asia, reported sales increased 4% in the first quarter ended April 29, 2007.
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The first quarter has seen progress against last year in revenue, operating profit and cash generation,” said Harriet Green, Group CEO. “We expect that the second quarter will continue to reflect the results of the investments we are making and will deliver further revenue growth with our focus on EDE, the Web and internationalizing our high service …
3M, St. Paul, MN, has acquired Diamond Productions Inc., Wayne, NJ, a manufacturer of superabrasive diamond and CBN wheels and tools for dimensioning and finishing hard-to-grind materials in metalworking, woodworking and stone fabrication markets.
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Diamond Productions Inc.,   ; brings industrial metalworking strengths as well as new applications for stone processing to 3M’s strong offering of grinding and finishing tools for the industrial and commercial markets.
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The combination of 3M and DPI expands the capabilities for dimensioning hard-to-grind materials to include stone, marble and concrete.
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The addition of DPI’s metal, resin and vitrified superabrasives enhances 3M’s cutting and grinding capabilities for such things as kitchen …
Activant Solutions Inc. has acquired Silk Systems Inc., including its wholly-owned subsidiary Silk Dimensions Systems Inc., computer software provider for the Canadian home improvement, wholesale distribution and building materials industries.
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The acquisition expands Activant’s presence in the Canadian market while building on current technology and service offerings for customers across North America.
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Hardware and home improvement centers, lumber and building materials and wholesale distribution are all key growth markets for Activant and are part of our larger corporate strategy of supporting customers across North America, including Canada,” said Pervez Qureshi, CEO of Activant Solutions.
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Silk Systems offers a business management ERP …
Pactiv Corporation, Lake Forest, IL, has acquired Prairie Packaging, Inc., a manufacturer of disposable tableware products for $1 billion, or 7X EBITDA. Prairie’s 2007 sales are expected to be $500 million.
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Prairie manufactures a broad range of tableware and foodservice products, including drink cups, portion cups, containers, cutlery, plates, and bowls. The company operates five manufacturing facilities in the U.S.
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Pactiv is a supplier in the consumer and foodservice/food packaging markets. Pactiv had 2006 sales of $2.9 …
