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Eric Smith

SiteOne Landscape Supply Acquires Two Companies

SiteOne Landscape Supply Acquires Two Companies

SiteOne Landscape Supply Inc. (NYSE: SITE), Roswell, Georgia, has acquired Arizona Stone & Architectural Products Inc. and Solstice Stone Inc. — collectively known as AZ Stone and Solstice. Financial terms of the deal weren’t disclosed. AZ Stone and Solstice operates seven locations throughout Arizona and two locations in the Las Vegas, Nevada, market. The company focused on the […]

F.W. Webb Subsidiary Alliance Environmental Group Makes Acquisition

F.W. Webb Subsidiary Alliance Environmental Group Makes Acquisition

Alliance Environmental Group (AEG), a subsidiary of Bedford, Massachusetts-based F.W. Webb Co., has acquired Clean Air Duct & Vent Cleaning, a Gloucester, Massachusetts-based vent cleaning business. Financial terms of the deal weren’t disclosed. The company’s services include the cleaning of air vents and ducts for dryers, air conditioners and forced hot air. “Due to COVID-19, […]

March M&A Roundup: Big Names Highlight Average Month for Deals

March M&A Roundup: Big Names Highlight Average Month for Deals

The closing period of the first quarter lacked the volume of previous months, but plenty of big-name distributors made market-shifting deals in March that kept afloat an ongoing M&A boom across wholesale distribution. Highlights from last month include acquisitions from MDM Top Distributors such as Würth Industry North America, Watsco Inc., Winsupply Inc., Core & […]

March M&A Roundup: Big Names Highlight Average Month for Deals

March M&A Roundup: Big Names Highlight Average Month for Deals

The closing period of the first quarter lacked the volume of previous months, but plenty of big-name distributors made market-shifting deals in March that kept afloat an ongoing M&A boom across wholesale distribution. Highlights from last month include acquisitions from MDM Top Distributors such as Würth Industry North America, Watsco Inc., Winsupply Inc., Core & […]

February Construction Spending Up 5.3% Year-Over-Year

February Construction Spending Up 5.3% Year-Over-Year

Construction spending during February was estimated at a seasonally adjusted annual rate of $1,516.9 billion, 5.3% above the February 2020 estimate of $1,441.1 billion but 0.8% below the revised January estimate of $1,529 billion, according to the U.S. Census Bureau. During the first two months of this year, construction spending amounted to $213.2 billion, 4.9% […]

Manufacturing Sector Grows in March

Manufacturing Sector Grows in March

Economic activity in the manufacturing sector improved in March, and the overall economy grew for the 10th consecutive month — after it had dipped significantly in the early stages of the coronavirus — according to the nation’s supply executives in the latest Manufacturing ISM Report on Business. The March Manufacturing PMI registered 64.7%, an increase of […]

Motion Appoints Group Vice President of Automation

Motion Appoints Group Vice President of Automation

Motion Industries Inc., a Birmingham, Alabama-based MRO distributor, on Thursday announced that Aurelio Banda will join the company as group vice president of automation, effective April 1. Banda most recently served as president and CEO of PHD Inc., a global manufacturer of electric, pneumatic and hydraulic industrial automation actuators of various types in Fort Wayne, […]

Builders FirstSource Completes Planned CEO Transition

Builders FirstSource Completes Planned CEO Transition

Builders FirstSource Inc. (Nasdaq: BLDR), Dallas, on Thursday announced today that Dave Flitman has been appointed CEO. The planned transition of the CEO role is taking place 90 days after the merger of Builders FirstSource and BMC Stock Holdings Inc., and the previously announced retirement plan of Chad Crow. “This is truly an exciting time for Builders FirstSource. […]

Optimas Solutions Appoints COO

Optimas Solutions Appoints COO

Fasteners distributor and manufacturer Optimas Solutions, Glenview, Illinois, on Thursday announced the appointment of Daniel Harms to COO. Harms will be responsible for leading Optimas’ distribution center operations in the United States, along with the Sourcing and Supply Chain teams for North America. He comes to Optimas from DSC Logistics (now CJ Logistics) where he […]

ABC Supply Opens Location in Salt Lake City

ABC Supply Opens Location in Salt Lake City

Building materials distributor ABC Supply Co. Inc., Beloit, Wisconsin, has opened a new location in Salt Lake City, Utah. Jade Robison manages the new location at 4228 W 1730 S in Salt Lake. He joined ABC Supply in 2008 as a roof loader at the company’s Orem, Utah, location and spent the last three and a half years managing […]

Rexel Names New CEO

Rexel Names New CEO

Paris, France-based electrical distributor Rexel announced that Patrick Berard is stepping down as CEO on September 1 to be succeeded on that same date by Guillaume Texier. Texier, who will join the company after holding several senior management positions at Saint-Gobain, was selected after an extensive search managed by Rexel’s board of directors’ nomination committee […]

Prepare for M&A by Making a Pandemic Checklist

Prepare for M&A by Making a Pandemic Checklist

At MDM’s recent M&A Virtual Summit, Reed Anderson of Houlihan Lokey provided a blueprint for distributors looking to sell as the economy emerges from COVID-19. During his presentation, “Post-Pandemic Considerations for Buyers and Sellers,” Anderson, the managing director for Houlihan Lokey’s Specialty Distribution practice, outlined some of the critical steps that owners should consider before […]

Census Bureau Releases Two Advance Economic Indicators for February

Census Bureau Releases Two Advance Economic Indicators for February

The U.S. Census Bureau this week released advance indicators showing that the international trade deficit and wholesale inventories increased in February. The international trade deficit was $86.7 billion in February, up $2.1 billion from $84.6 billion in January. Exports of goods for February were $130.1 billion, $5.1 billion less than January exports. Imports of goods […]

Presenting the 2021 MDM Women in Distribution Award Winners

Presenting the 2021 MDM Women in Distribution Award Winners

After a highly successful online nomination period consisting of nearly 150 submissions, Modern Distribution Management is proud to announce the winners of our inaugural Women in Distribution Awards. This awards program recognizes the exceptional job performance and overall industry influence of women in the traditionally male-dominated field of distribution. The awards showcase successful leaders who […]

White Cap Supply Canada to Acquire National Concrete Accessories

White Cap Supply Canada to Acquire National Concrete Accessories

White Cap Supply Canada, the Canadian arm of Atlanta-based White Cap Supply Holdings LLC, will combine with National Concrete Accessories Canada Inc. to form a single Canadian business. Financial terms of the deal weren’t disclosed. White Cap Supply Canada is composed of two businesses — Brafasco and Brock White Canada. White Cap is the former […]

Optimas Solutions Moves Headquarters to Wood Dale, Illinois

Optimas Solutions Moves Headquarters to Wood Dale, Illinois

Fasteners manufacturer and distributor Optimas Solutions announced it is moving its global corporate headquarters to Wood Dale, Illinois, where it will consolidate into one of its existing manufacturing facilities. The company is vacating its HQ in Glenview, Illinois. Both towns are in the Chicago metro area and about 30 minutes apart. By moving to its […]

Real U.S. GDP Increase 4.3% in 4Q According to ‘Third’ Estimate

Real U.S. GDP Increase 4.3% in 4Q According to ‘Third’ Estimate

Real gross domestic product (GDP) increased at an annual rate of 4.3% in the fourth quarter of 2020, according to the “third” estimate released Thursday by the Bureau of Economic Analysis. In the third quarter, real GDP increased 33.4%. The “third” estimate of GDP released today is based on more complete source data than were […]

Real U.S. GDP Increases 4.3% in 4Q According to ‘Third’ Estimate

Real U.S. GDP Increases 4.3% in 4Q According to ‘Third’ Estimate

Real gross domestic product (GDP) increased at an annual rate of 4.3% in the fourth quarter of 2020, according to the “third” estimate released Thursday by the Bureau of Economic Analysis. In the third quarter, real GDP increased 33.4%. The “third” estimate of GDP released today is based on more complete source data than were […]

Houston Wire & Cable to Be Acquired for $91 Million

Houston Wire & Cable to Be Acquired for $91 Million

Houston Wire & Cable Co. (NASDAQ: HWCC), Houston, on Thursday announced that it will be acquired by West Chester, Pennsylvania-based Omni Cable LLC in an all-cash transaction for $5.30 a share, or $91 million. The price represents a premium of 39% to HWCC’s unaffected closing price of $3.80 on March 24 and an 89% premium […]

Houston Wire & Cable to Be Acquired for $91 Million

Houston Wire & Cable to Be Acquired for $91 Million

Houston Wire & Cable Co. (NASDAQ: HWCC), Houston, on Thursday announced that it will be acquired by West Chester, Pennsylvania-based Omni Cable LLC in an all-cash transaction for $5.30 a share, or $91 million. The price represents a premium of 39% to HWCC’s unaffected closing price of $3.80 on March 24 and an 89% premium […]