Eric Smith

Industrial distributor Motion & Control Enterprises, a Zelienople, Pennsylvania-based portfolio company of the private equity firm Frontenac Co., on Thursday announced that it has acquired Swanson Flo Control, Plymouth, Minnesota. Financial terms of the deal weren’t disclosed. Swanson Flo is a regional distributor of process instrumentation, flow control valves, actuators and related equipment. The company […]

Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Jan. 25 to Jan. 29 increased 6.4%, continuing a normal growth trend. “This week’s PRI marks 12 consecutive weeks of sales increases,” said Mike Emerson, IRCG Partner. “As one contributor to the index pointed out, commodity prices have been on a […]

W.W. Grainger Inc. was among the success stories of distribution throughout the pandemic-riddled year of 2020. Bolstered by a strong pivot to PPE and other COVID-related products, the Chicago-based industrial and MRO distributor routinely beat revenue and earnings estimates even as its traditional product mix was flat. And as MDM reported earlier Wednesday, Grainger reported […]

The seasonally adjusted Fastener Distributor Index (FDI) for January was 57.7, down from 62.6 in December, according to the latest analysis from Baird, FCH Sourcing Network and the Institute for Supply Management. However, said Dave Manthey of Baird, “The percentage of respondents indicating sales were above expectations was essentially unchanged vs. last month [December] at […]

Grainger (NYSE: GWW), Chicago, on Wednesday reported 2020 sales increased 2.7% — or  3.5% on an organic basis — to $11.8 billion, while the company’s profit decreased 18.1% to $695 million for the year. “2020 was a year filled with challenges and uncertainty,” said DG Macpherson, Grainger’s chairman and CEO. “I’m proud of how the Grainger […]

Ferguson on Wednesday announced that it is “in the process of registering with the US Securities & Exchange Commission (SEC) under the Securities Exchange Act of 1934 to enable trading of its ordinary shares in the U.S.” The company anticipates that its listing on the New York Stock Exchange will happen in March. Ferguson will […]

The Home Depot (NYSE: HD), Atlanta, this week announced it has opened a new distribution center in Dallas to fulfill online orders and store orders. The company said the 1.5 million square-foot distribution center is “designed to meet customers’ delivery needs through multiple channels, whether delivering items directly to customers’ homes or for pickup at […]

Amazon.com Inc. (NASDAQ: AMZN), Seattle, Washington, on Tuesday announced that CEO Jeff Bezos will transition to the role of executive chair in the third quarter of 2021 and Andy Jassy will become CEO at that time. “Amazon is what it is because of invention,” Bezos said. “We do crazy things together and then make them […]

WESCO International Inc. (NYSE: WCC), Pittsburgh, Pennsylvania, on Tuesday announced it has sold its legacy WESCO utility business in Canada to Rexel Canada, a wholly owned subsidiary of France’s Rexel Group. Financial terms of the deal weren’t disclosed. According to WESCO, the transaction “partially fulfills WESCO’s commitment to divest its legacy Canadian Utility and Datacom […]

Specialty building materials distributor US LBM Holdings LLC, Buffalo Grove, Illinois, on Tuesday announced it has acquired Villaume Industries, an Eagan, Minnesota-based manufacturer of wood trusses for new residential and commercial construction and of custom wood crating, boxes and pallets in Minnesota. Financial terms of the deal weren’t disclosed. Villaume serves customers in the Twin […]

Crawford Electric, a Houston-based electrical distributor and subsidiary of Sonepar, this week announced a reorganized senior leadership team for its Houston branch. The company said the moves will aid in its expansion in the Texas Gulf Coast market. Jared Lukert has been appointed to the new role of Houston’s business manager, and Eric Eddleman has […]

Wayne, Pennsylvania-based buying group AD announced this week that, on a same-store basis, member sales across all AD’s divisions and countries in 2020 were down 3% to $45.1 billion. By business unit, annual plumbing, heating, cooling and piping same store sales were flat; electrical sales were down 5%; building materials sales were up 4%; and […]

The surest way to leverage today’s complex but improving economic landscape is to borrow money, invest in your business and reap the benefits. By taking the proceeds from any number of low-interest loans out there and pursuing new acquisitions, adding new technologies, hiring new talent or installing new equipment — or perhaps a combination of […]

Heating, Air-conditioning & Refrigeration Distributors International (HARDI), Columbus, Ohio, this week released its monthly TRENDS report, showing the average sales performance by HARDI distributors was an increase of 21.4% during December. The average annual sales growth for the 12 months through December 2020 is 4.1%. “What a great way to end a challenging year,” said […]

Construction spending during December 2020 was estimated at a seasonally adjusted annual rate of $1,490.4 billion, 5.7% above the December 2019 estimate of $1,410.3 billion and 1% above the revised November estimate of $1,475.6 billion, according to the U.S. Census Bureau. For 2020, construction spending amounted to $1,429,7 billion, 4.7% above the $1,365.1 billion for […]

Economic activity in the manufacturing sector improved in January, and the overall economy grew for the eighth 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 January Manufacturing PMI registered 58.7%, down 1.8% […]

Power management company Eaton (NYSE: ETN), Dublin, Ireland, on Monday announced it has agreed to acquire UK-based manufacturer Cobham Mission Systems (CMS) for $2.8 billion. CMS manufactures air-to-air refueling systems, environmental systems and actuation primarily for defense markets. Eaton said that excluding the amount paid for tax benefits, the purchase price represents about 14 times […]

Ingersoll Rand Inc. (NYSE:IR), Davidson, North Carolina, on Monday announced it has completed the acquisition of Tuthill Vacuum and Blower Systems, Springfield, Missouri, for $184 million. The company said this transaction, announced on Dec. 10, 2020, was completed with cash on hand and “fits strategically with the company’s portfolio of air compression technologies and operates […]

Ferguson PLC on Monday said it has completed the disposal of Wolseley UK, its plumbing and heating distribution business. The company announced the £308 million (US$417.5 million) sale of the business to the private equity firm Clayton, Dubilier and Rice in early January. As the company announced at the time, it intends “to return substantially […]

When a company gets disrupted, it’s because leadership failed. It’s not because of a once-in-a-lifetime pandemic. Or Amazon. Or anything else that happened outside the C-suite and might seem unfair. Leadership gets credit when the opposite occurs. If a company transforms its business model and grows 5x, 10x, 20x — or whatever astronomical number you […]