Eric Smith

Protective Industrial Products Inc., Latham, New York — a supplier of hand protection and PPE to the industrial, construction and retail markets — announced the acquisition of Primax Manufacturing & Trading Inc. Financial terms of the deal weren’t disclosed. PIP is a portfolio company of Audax Private Equity. Primax, headquartered in La Mirada, California, is […]

Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Nov. 9 to Nov. 13 indicated an 2.2% decrease compared with the same week a year ago. Of the 12 respondents, four reported increases, according to IRCG. The range of decreases for the eight other companies ranged from 3% to 31%. […]

Building materials distributor Beacon Roofing Supply Inc. (Nasdaq: BECN), Herndon, Virginia, on Thursday reported sales for fiscal 2020 ended Sept. 30 of $6.9 billion, a 2.3% decrease compared to fiscal 2019. The company reported a loss for the year of $80.9 million, compared to a loss of $10.6 million a year ago. For the fiscal […]

Building materials distributor ABC Supply Co. Inc., Beloit, Wisconsin, announced Wednesday it has opened a new location in Quincy, Massachusetts. Joe Camara manages the new location, at at 115 East Howard St. Camara began his career with ABC Supply in 2007 as an outside sales representative for the Fall River, Massachusetts, location, helping contractors expand and grow their […]

Privately owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,545,000, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. This is virtually unchanged from the revised September rate of 1,545,000 but is 2.8% above the October 2019 rate of 1,503,000. […]

U.S. cutting tool consumption totaled $156.1 million in September, according to the U.S. Cutting Tool Institute (USCTI) and The Association For Manufacturing Technology (AMT). This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was down 20.5% when compared with the $196.3 million reported for September 2019 but up 14.7% from […]

Lowe’s Cos. Inc. (NYSE: LOW), Mooresville, North Carolina, on Wednesday reported revenue for the third quarter of $22.3 billion, up 28.3% from the year-ago quarter. Comparable sales increased 30.1%, and comparable sales for the U.S. home improvement business increased 30.4% for the third quarter. The company reported profit of $692 million and diluted earnings per share (EPS) of 91 cents for […]

The seasonally adjusted Fastener Distributor Index (FDI) for October was 56.5, up from 52 in September, according to the latest analysis from Baird, FCH Sourcing Network and the Institute for Supply Management. That marked the second consecutive month of growth. The Forward-Looking Indicator (FLI) also improved to 64.5, reaching the highest levels since January 2018. […]

The combined value of distributive trade sales and manufacturers’ shipments for September, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,465.1 billion, up 0.8% from September 2019 and up 0.6% from August, according to the U.S. Census Bureau. Manufacturers’ and trade inventories for September, adjusted for seasonal variations […]

Total industrial production grew 1.1% in October, according to the Industrial Production and Capacity Utilization Report, released Tuesday by the Federal Reserve. The index has recovered much of its 16.5% decline from February to April, but output in October was still 5.6% lower than its pre-pandemic February level. After edging up 0.1% in September, manufacturing […]

Ferguson PLC on Tuesday announced the addition of two companies to its portfolio. The plumbing and HVAC distribution giant acquired Old Dominion Supply Inc., a wholesale distributor of HVAC parts and supplies in Maryland and Northern Virginia, and Atlantic Construction Fabrics Inc., a geotextile company operating along the East Coast. Financial terms of the two […]

Heritage Landscape Supply Group Inc., McKinney, Texas, announced Tuesday that one of its brands, HLS Outdoor, has opened a branch in Wichita, Kansas. The 11,000-square-foot location at 2055 S. Edwards Street in Wichita will carry a full line of irrigation and landscape supplies, outdoor lighting, agronomics, pavers and hardscapes, tools and accessories, and other complementary […]

After a painfully slow second quarter and only a moderately paced third quarter due to COVID-19, consolidation in the building material sector has returned with a vengeance. M&A activity has accelerated across many distribution verticals, but consolidation among companies serving the commercial, residential and specialty construction markets has reached a fever pitch with private equity […]

Specialty building materials distributor PrimeSource, Irving, Texas, is being sold from one private equity firm to another. Its previous owner, Platinum Equity, announced Monday that it has agreed to sell PrimeSource — its official corporate moniker is PriSo Holding Corp. — to Clearlake Capital Group L.P. Financial terms of the deal were not disclosed. Founded […]

Swedish bearings manufacturer SKF announced Monday that President and CEO Alrik Danielson will leave the company in 2021 after five years in those positions. SKF’s board has started the process of recruiting a new president and CEO. Hans Stråberg, chairman of the board of AB SKF, said: “I would like to warmly thank Alrik Danielson […]

Specialty building products distributor Foundation Building Materials Inc. (NYSE: FBM), Santa Ana, California, announced Monday that it has agreed to be acquired by an affiliate of the private equity firm American Securities LLC for $19.25 per share, or $1.4 billion, including outstanding debt. An affiliate of Lone Star Funds, another private equity firm, acquired FBM […]

HD Supply Holdings Inc. (Nasdaq: HDS) on Monday announced that it is being acquired by home improvement retailer The Home Depot Inc. for $56 per share, or $8.7 billion. The companies’ boards of directors have unanimously approved the terms of the agreement, and the board of HD Supply has resolved to recommend that shareholders accept the offer, once […]

Builders FirstSource Inc. (Nasdaq: BLDR) and BMC Stock Holdings Inc. (Nasdaq: BMCH) announced Monday the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, effective on Nov. 13. This concludes the Department of Justice’s HSR Act review of the proposed combination of the two companies. Builders FirstSource and BMC expect […]

Curbell Plastics Inc., Orchard Park, New York, has combined its two Arlington, Texas, locations into the larger Timberlake Drive facility, also in Arlington. The move comes after Curbell’s August acquisition of Nationwide Plastics Inc., which had three locations, including the one at 2001 Timberlake Drive, Arlington, TX. In August of this year the sales teams from both […]

Crescent Electric Supply Co., East Dubuque, Illinois, announced Friday that Kristi Dahlke has joined the organization as chief financial officer. “Kristi brings to our company nearly three decades of experience across a wide range of high-profile organizations,” said Scott Teerlinck, president and CEO of Crescent Electric. “Most importantly, she brings a proven track record of […]