Eric Smith

SiteOne Landscape Supply Inc. (NYSE: SITE), Roswell, Georgia, on Wednesday announced sales for the first quarter of $650.2 million, up 41.4% from the same period a year ago. The company posted a profit of $7.4 million, up from a loss of $17.5 million in 1Q 2020. “With favorable demand across all regions and product lines, […]

NOW Inc. (NYSE: DNOW), Houston, reported sales for the first quarter of $361 million, a 40.2% decrease from the same period a year ago. The company reported a loss of $10 million, compared to a loss of $331 million in the year-ago quarter. In the first quarter, sales in the U.S. were down 42.9% to […]

Systemax Inc. (NYSE: SYX), the Port Washington, New York-based parent of Global Industrial, reported sales for the first quarter of $251.1 million, up 10.5% from the year-ago period. Profit declined 33.7% to $5.5 million. “Sales reflect a continued recovery in core categories, which finished the quarter with a strong March, and solid demand for our […]

Based on the declining number of deals during the last two months, pandemic fatigue has perhaps taken hold of anyone pursuing M&A. April was another slow month for activity, yet the market remains attractive for both buyers and sellers, according to the analysts that MDM has polled during the first few months of 2021. A […]

DXP Enterprises Inc. (Nasdaq: DXPE), Houston, this week announced it has acquired Carter & Verplanck Inc., a Tampa, Florida-based distributor of products and services for the water and wastewater markets. Financial terms of the deal were not disclosed. Founded in 1927, Carter & Verplanck serves customers in Florida, Tennessee, Georgia and Alabama. CVI provides bio-solid […]

SiteOne Landscape Supply Inc. (NYSE: SITE), Roswell, Georgia, this week announced it has acquired Melrose Irrigation Supply and Sales, Riviera Beach, Florida. Financial terms of the deal weren’t disclosed. Melrose, which has six locations throughout the Florida, distributes irrigation, lighting and drainage products. “Melrose provides us with six additional branches throughout the state of Florida […]

Specialty building materials distributor US LBM Holdings LLC, Buffalo Grove, Illinois, on Monday announced it has acquired Higginbotham Brothers, an Comanche, Texas-based dealer with 38 locations in Texas and two in Oklahoma. Financial terms of the deal weren’t disclosed. With this acquisition, US LBM now operates more than 320 locations nationwide. Higginbotham Brothers dates to […]

SiteOne Landscape Supply Inc. (NYSE: SITE), Roswell, Georgia, has acquired Minnesota-based Timberwall Landscape & Masonry Products. Financial terms of the deal weren’t disclosed. Timberwall serves the Twin Cities market with one location in Victoria, Minnesota, focused on the distribution of hardscapes products and landscape supplies to landscape professionals and homeowners. “Timberwall is a true market […]

Swedish industrial manufacturer Atlas Copco on Monday announced it has acquired a majority share of Eco Steam and Heating Solutions (E.K.S. HOLDING B.V.), an industrial steam and hot water boiler company located in the Netherlands. Financial terms of the deal weren’t disclosed. Eco Steam and Heating Solutions is based in Tilburg, in the Netherlands and […]

Grainger (NYSE: GWW), Chicago, on Friday reported first-quarter sales of $3.1 billion, up 2.8% compared to the year-ago quarter, or 5.9% on an organic daily basis compared to the first quarter of 2020 (excluding divestitures and foreign exchange). Grainger’s profit increased 37.6% to $238 million, while diluted earnings per share of $4.48 were up from $3.19 in […]

Amazon.com Inc. (Nasdaq: AMZ) reported sales of $108.5 billion in the first quarter, up 30.5% compared to the same quarter in 2020. Net income was $8.1 billion in the first quarter, up 68.7% from the year-ago period. Net product sales accounted for $57.5 billion, up 27.2% year over year from $41.8 billion. Net service sales hit $51 billion, up 34.1% from the prior year’s $33.6 […]

Real gross domestic product (GDP) increased at an annual rate of 6.4% in the first quarter of 2021, according to the “advance” estimate released Thursday by the Bureau of Economic Analysis. In the fourth quarter of 2020, real GDP increased 4.3%. The increase in real GDP in the first quarter reflected increases in personal consumption expenditures […]

Lawson Products Inc. (Nasdaq: LAWS), Chicago, reported first-quarter sales of $103.6 million, up 13.8% compared to the first quarter of 2020. Average daily net sales for the MRO distributor soared 15.6% to $1.6 million. Net income of $3.6 million, however, was down significantly from $12.5 million in the year-ago period. “Lawson had a productive first […]

Kathy Mazzarella’s ascent to the top post at St. Louis-based electrical distributor Graybar is legendary. She began at the bottom and worked her way up, but that’s only part of the story. When Mazzarella joined the company in 1980 as a customer sales and service representative, not only was she a woman looking to forge […]

Avnet Inc. (Nasdaq: AVT), Phoenix, Arizona, reported sales for the fiscal third quarter ended April 3 of $4.9 billion, up 14.1% year-over-year. Profit for the quarter was $107.5 million, up from a loss of $128.7 million in the year-ago fiscal third quarter. “In the third quarter, the impact of our back-to-basics strategy resulted in strong […]

The U.S. Census Bureau this week released advance indicators showing that the international trade deficit and wholesale inventories increased in March. The international trade deficit was $90.6 billion in March, up $3.5 billion from $87.1 billion in February. Exports of goods for March were $142 billion, $11.4 billion more than February exports. Imports of goods […]

Electrical, communications and data networking products distributor Graybar, St. Louis, Missouri, reported first-quarter sales of $1.9 billion, a 7.2% increase compared to the previous year. Net income of $47.2 million marked a 120.6% increase compared to the year-ago quarter. “I am very proud that we set a new first quarter record in net sales and […]

Swedish manufacturer Atlas Copco (STO: ATCOA, ATCOB), Nacka, Sweden, reported first-quarter sales of SEK 26 billion (US$3.1 billion), a 4% increase over the first quarter of 2020. Profit for the company was SEK 4.1 billion (US$491 million), a 7% increase over the prior year. The post Atlas Copco’s 1Q Sales Up 4% appeared first on […]

Switzerland-based power and automation company ABB reported first-quarter sales of $6.9 billion, an 11% increase over the first quarter of 2020. The company reported profit of $502 million, up 34% drop compared to the year-ago period. “Market activity continued to recover from its lowest point during the summer 2020,” said Björn Rosengren, CEO of ABB. Demand was […]

Houston-based distributor Hisco this week announced the acquisition of Shurmed Health, Sarasota, Florida. Financial terms of the deal weren’t disclosed. Shurmed Health is a manufacturer of specialty adhesive solutions for medical industry applications including advanced wound care, medical device fixation, patient monitoring, consumer wellness and more. Shurmed Health will operate as a subsidiary of Precision […]