Eric Smith

SiteOne Landscape Supply Inc. (NYSE: SITE), Roswell, Georgia, on Wednesday announced sales for 2020 of $2.7 billion, up 15% from 2019. Net income was up 56% to $121.3 million. “The stay-at-home trend associated with COVID-19 has increased demand for new homes and accelerated investment in outdoor living, both of which have increased demand for landscaping […]

The Home Depot Inc. (NYSE: HD), Atlanta, Georgia, reported sales for 2020 of $132.1 billion, up 19.9% from 2019. Net income improved 15.2% to $12.9 billion. For the fourth quarter, the company reported sales of $32.3 billion, a 25.1% increase compared to the same period a year ago. Net income increased 16% to $2.9 billion in the period. The […]

SiteOne Landscape Supply Inc. (NYSE: SITE), Roswell, Georgia, has acquired Lucky Landscape Supply LLC, Katy, Texas. Financial terms of the deal weren’t disclosed. Lucky Landscape serves the Greater Houston market from a single location that’s focused on the distribution of nursery products to landscape professionals. “Lucky Landscape provides us with our fourth dedicated nursery branch within the […]

PPG (NYSE:PPG), Pittsburgh, on Monday said it has completed its acquisition of VersaFlex from DalFort Capital Partners. Financial terms of the deal weren’t disclosed. VersaFlex is a manufacturer specializing in polyurea, epoxy and polyurethane coatings for water and waste water infrastructure, flooring, transportation infrastructure and industrial applications. The company has approximately 130 employees and three manufacturing sites […]

Led by improvements in personal consumption-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to +0.66 in January from +0.41 in December. All four broad categories of indicators used to construct the index made positive contributions in January, but three categories decreased from December. The index’s three-month moving average, CFNAI-MA3, decreased to +0.47 in […]

Solve Industrial Motion Group, Charlotte, North Carolina, on Monday announced that its board of directors has named Lisa Mitchell as its new CEO. Mitchell formerly served in two other C-suite positions for the recently formed company. “Lisa has quickly proven to be a strong leader as the CFO and COO over the last two years. We […]

Electrical distributor Graybar, St. Louis, Missouri, has named Andrew C. Ipson as vice president – strategic accounts, effective April 1. Ipson has nearly 22 years of industry experience. He currently serves as director, electrical sales in Graybar’s southwest district, with responsibility for growth throughout the state of California. Ipson started his career in 1999 with Consolidated […]

Bearings manufacturer Auburn Bearing & Manufacturing Inc., Macedon, New York, has acquired Aurotek TSB Inc., Herkimer, New York, effective Feb. 1. Financial terms of the deal weren’t disclosed. Aurotek TSB, which was founded by Dr. Don Cancelmo, will move its operation to Auburn’s Macedon headquarters. Aurotex TSB specializes in the production of precision thin section […]

Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Feb. 8 to Feb. 12 increased 5%, returning to the normal growth trend of mid-single-digit improvement. “After a double-digit growth week to start February, the index has returned to mid-single digits, which was the pattern through the better part of January,” […]

Privately owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,881,000, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. This is 22.5% above the January 2020 rate of 1,536,000 and 10.4% above the revised December 2020 rate of 1,704,000. Single-family […]

Total industrial production grew 0.9% in January, according to the Industrial Production and Capacity Utilization Report, released Wednesday by the Federal Reserve. Manufacturing output rose 1%, about the same as its average gain over the previous five months. Mining production advanced 2.3%, while the output of utilities declined 1.2%. At 107.2% of its 2012 average, […]

NOW Inc. (NYSE: DNOW), Houston, reported 2020 sales of $1.6 billion, down 45.1% over 2019. The company reported a loss of $427 million, compared to a loss of $97 million a year ago. In the fourth quarter, NOW reported sales of $319 million, a 50.1% decrease from the same period a year ago. The company […]

Krayden Inc., a Denver, Colorado-based distributor of specialty chemicals to the aerospace, electronics, transportation and industrial sectors, has acquired Northern Composites, Hampton, New Hampshire. Financial terms of the deal weren’t disclosed. Northern Composites is a distributor of composite materials and a manufacturer of Northern Composites-branded vacuum bagging materials and accessories. “We truly admire Northern Composites, […]

KKR, a New York-based global investment firm, on Wednesday announced it has agreed to acquire Flow Control Group, a Charlotte, North Carolina-based distributor of flow control and industrial automation products, from Bertram Capital. Financial terms of the deal weren’t disclosed. Flow Control Group serves more than 10,000 customers and 2,000 suppliers in North America for […]

MRO distributor Lawson Products Inc. (NASDAQ: LAWS), Chicago, on Wednesday announced that Bianca Martinez Rhodes has been elected to the company’s board of directors. This appointment increases the size of the board to eight members. Rhodes, 62, has served as president and CEO of Knight Aerospace Medical Systems LLC since 2014. “It is with great pleasure that […]

Genuine Parts Co., the parent of Motion Industries — what GPC calls its “industrial parts group” — reported Wednesday that the distributor’s fourth-quarter sales of $1.4 billion were down 3.3% year-over-year and represented 34% of total company revenues (up from 32% the prior quarter). The decrease in sales was comprised of a 4.4% decrease in […]

Regal Beloit Corp. (NYSE: RBC), Beloit, Wisconsin, and Rexnord Corp. (NYSE: RXN), Milwaukee, Wisconsin, on Tuesday a $3.7 billion deal in which Rexnord will separate its Process & Motion Control segment via a tax-free spin-off to its shareholders and then immediately combine it with Regal in a Reverse Morris Trust transaction. Regal shareholders will own […]

Ingersoll Rand Inc. (NYSE:IR), Davidson, North Carolina, on Tuesday said it has agreed to sell a majority interest in its High Pressure Solutions (HPS) Segment to the private equity firm American Industrial Partners (AIP) for $300 million. Ingersoll Rand will retain a 45% common equity interest in the business. The transaction, subject to standard closing […]

Landscape distributor Heritage Landscape Supply Group Inc., a McKinney, Texas-based subsidiary of SRS Distribution, on Tuesday announced that it has acquired Watson Supply, a Harrisburg, Pennsylvania-based, family-owned distributor of hardscapes, lighting, irrigation and other landscape products. Financial terms of the deal weren’t disclosed. Watson Supply was founded in 1993 by Jay Watson and his son, […]

Motion Industries Inc., Birmingham, Alabama, a distributor of maintenance, repair, and operation replacement parts and a wholly owned subsidiary of Genuine Parts Co., has promoted seven executives. Logan Carden was named Nashville Division vice president and will be responsible for overseeing the sales growth initiatives of 20 branches located in parts of Indiana, Tennessee, Kentucky, […]