Watsco Inc. has been operating out of the same playbook for the past few years, and in 2021 the Miami-based HVACR distributor expects to double down on the growth drivers that have been propelling the company to record sales, cash flow and profit. Last week, the company reported 2020 sales of $5.1 billion, up 6% […]
Eric Smith
WESCO Divests Canadian Datacom Business
WESCO International Inc. (NYSE: WCC), Pittsburgh, Pennsylvania, has sold its legacy WESCO Datacom business in Canada to Guillevin International, a Canadian distributor of industrial products. Financial terms of the deal weren’t disclosed. According to WESCO, the transaction fulfills the company’s “commitment to divest its legacy Canadian Utility and Datacom businesses in connection with its Consent […]
MRC Global 2020 Sales Sink 30.1%
Pipes, valves and fittings distributor MRC Global Inc. (NYSE: MRC), Houston, reported 2020 sales of $2.6 billion, a 30.1% decrease from 2019. The company reported a loss of $298 million, compared to a profit of $15 million last year. The company reported fourth-quarter sales of $579 million, down 24.4% from the same period a year […]
Watsco Sales Increase 6% in 2020
HVACR distributor Watsco Inc. (NYSE: WSO), Miami, reported sales for 2020 of 5.1 billion, up 6% over 2019. Profit improved 9.6% to $269.8illion. Excluding acquisitions, HVAC equipment sales increased 4% in the year-to-date period, other HVAC products were flat and commercial refrigeration equipment decreased 4%. “We are excited to deliver another record year, especially given […]
Pandemic Revenue Index Up 14.1%
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Feb. 1 to Feb. 5 increased 14.1% compared to the same week a year ago, continuing a normal growth trend. “It’s been nearly five months since we’ve seen anything material on the negative side,” said Mike Emerson, IRCG partner. “As we […]
Wholesale Trade Sales Up 1.7% in December
Wholesale trade improved in December compared to the same month a year ago and with November, according to the latest report from the U.S. Census Bureau. December 2020 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 $503.8 billion, […]
Beacon Completes Divestment of Interior Business Division
Beacon Roofing Supply Inc., Herndon, Virginia, has completed the previously announced $850 million sale of its interior products and insulation businesses to Foundation Building Materials, now majority-owned by affiliates of the private equity firm American Securities LLC. Beacon said the divestiture of this division “accelerates the company’s ongoing efforts to improve its financial flexibility and […]
Würth Industry North America Acquires Atlantic Fasteners
Würth Industry North America (WINA), Indianapolis, Indiana, has acquired Atlantic Fasteners Inc., Agawam, Massachusetts, a 36-year-old structural bolt manufacturer and fastener distributor. Financial terms of the deal weren’t disclosed. Würth said the addition of Atlantic “will better serve the needs of Würth Industry’s customers in the construction and structural markets by providing end-to-end distribution and […]
Leading Distributors Share the Secrets to Their Pandemic-Era Successes
To continue reading this article you must be a paid subscriber. Subscribe to MDM Already Subscribed? Click here to log-in | Forgot your password? Distributors have played a critical role during the COVID-19-driven disruptions of the past year. Whether that meant supplying PPE or distributing vaccines, wholesale companies have been counted among the country’s “essential” […]
NW Synergy Sets the Stage for a Bright Future
To continue reading this article you must be a paid subscriber. Subscribe to MDM Already Subscribed? Click here to log-in | Forgot your password? 2020 was a momentous year for Mark Fisher, who was appointed as CEO of NW Synergy (NWS), the recently formed holding company that manages JanSan and facilities maintenance distributors North American, […]
WESCO’s 2020 Sales Grow 48% on Anixter Addition
WESCO International Inc. (NYSE: WCC), Pittsburgh, Pennsylvania, reported sales for 2020 of $12.3 billion, up 48% from 2019 due to last year’s acquisition of Anixter International Inc. Profit of $70.4 million was down from $223.4 million a year ago. For the fourth quarter, sales were $4.1 billion, a year-over-year increase of 97%, again due to adding […]
Beacon’s Q1 Sales Up 11.4%
Beacon Roofing Supply Inc. (NASDAQ: BECN), Herndon, VA, reported sales of $1.6 billion for the first quarter of its fiscal 2021, up 11.4% compared to the year-ago period. The company reported a profit of $71 million, up significantly from a profit of $18.2 million the same quarter a year ago. The 1Q earnings report comes […]
Manufacturing Technology Orders Up 17.6% in December
U.S. manufacturing technology orders totaled $456.7 million in December, a 17.6% increase from the same month a year ago, according to the U.S. Manufacturing Technology Orders report published Monday by AMT – The Association For Manufacturing Technology. New orders placed in December also marked a 40% increase from November. For the year, orders totaled $3.87 […]
SRS Distribution Acquires J.B. Wholesale
Building materials distributor SRS Distribution Inc., McKinney, Texas, has acquired J.B. Wholesale Roofing and Building Supplies Inc., Chatsworth, California. Financial terms of the deal were not disclosed. J.B. Wholesale, a distributor of residential and commercial roofing and other related products, was founded in 1979 by Keith Jones and is currently run by Brian Jones and […]
Goods and Services Deficit Down in December
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis on Friday announced that the goods and services deficit was $66.6 billion in December, down $2.4 billion from $69 billion in November, revised. December exports were $190 billion, $6.2 billion more than November exports. November imports were $256.6 billion, $3.8 billion more than November imports. The […]
SRS Distribution Appoints CFO
SRS Distribution Inc., McKinney, Texas, on Friday announced that it has appointed Ryan Nelson to executive vice president and CFO. Nelson will report to Dan Tinker, president and CEO, and he succeeds R. Scott Vansant, who will remain with the company as executive vice president. “This move reflects the ongoing succession planning that has been […]
Heritage Landscape Supply Acquires Atlanta Landscape Materials
Landscape distributor Heritage Landscape Supply Group Inc., a McKinney, Texas-based subsidiary of SRS Distribution, on Friday announced it has acquired Atlanta Landscape Materials, Atlanta, Georgia. Financial terms of the agreement weren’t disclosed. Founded in 1983 by brothers Dan Perry and Michael Perry, Atlanta Landscape is a family-owned distributor of aggregates, stone and other landscape products. […]
January M&A Roundup: Momentum Carries into New Year
2021 began where 2020 left off — with a slew of M&A deals being announced across wholesale distribution. The first month of the year included a nice mix of big and small companies, financial and strategic deals, in a variety of categories. One of January’s most eye-opening deals happened early in the month when Ferguson […]
Arrow Electronics’ 2020 Sales Down 0.8%
Electronic components distributor Arrow Electronics Inc. (NYSE: ARW), Centennial, Colorado, reported 2020 sales of $28.7 billion, down 0.8% from 2019. The company reported a profit of $584.4 million, compared to a loss of $204.1 million last year. The company reported fourth-quarter sales of $8.5 billion, up 15.2% compared with the fourh quarter of 2019. Net income of […]
Fastenal’s January Sales Decline 3.2%
Fastenal Co. (Nasdaq: FAST), Winona, Minnesota, reported January sales of $448 million, down 3.2% from the same month a year ago. The company reported daily sales of $22.4 million, down 9.1% versus a year ago. By region, U.S. sales grew 4.4%, Canada/Mexico sales grew 14.8% and “rest of world” sales grew 35.6%. By end market, manufacturing […]
