Eric Smith

Optimas Solutions, a Glenview, Illinois-based manufacturer and distributor of industrial fasteners and supply chain solutions, announced Monday the promotion of Marc Strandquist to CEO. Strandquist, pictured right, who had been serving as president of the Americas for Optimas, succeeds newly elected board chair and AIP operating partner TJ Rosengarth. In his new role, Strandquist will […]

American Supply Association, Itasca, Illinois, said Monday that its member distributors reported an average sales growth of 2.5% and a median sales growth of 4.1% for the third quarter. Respondents to ASA’s quarterly Pulse report survey reported a median 1% growth in calendar year-to-date sales as of Sept. 30, 2020 vs. 2019. Half the respondents […]

The U.S. Census Bureau announced Friday that the combined value of distributive trade sales and manufacturers’ shipments for August — adjusted for seasonal and trading day differences but not for price changes — was estimated at $1.5 trillion, up 0.6% (±0.2%) from July but down 0.4% (±0.4%) from August 2019. Manufacturers’ and trade inventories for […]

Total industrial production fell 0.6% in September, its first decline after four consecutive months of gains, according to the Industrial Production and Capacity Utilization Report, released Friday by the Federal Reserve. Manufacturing output decreased 0.3% in September and was 6.4% below February’s level. The output of utilities dropped 5.6 percent, as demand for air conditioning fell […]

Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Oct. 5 to Oct. 9 indicated a 0.4% decrease compared with the same week a year ago, continuing the pattern of relatively flat conditions that began in August. Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week […]

With supply chains growing increasingly complex ever since COVID-19 began ravaging the economy earlier this year, it feels as though the world is no longer flat. One result of the coronavirus crisis: Manufacturer stock-outs have become a norm — especially for certain types of products, including JanSan and safety — meaning B2B customers have been […]

Fastenal Co.’s shares (Nasdaq: FAST) might have dipped 5% Tuesday following low-single-digit sales growth in the third quarter, but that disappointing stock performance doesn’t adequately reflect the Winona-Minnesota-based distributor’s long-term prospects. The company is now “optimally positioned” to take share in the industrial market. That was the assessment of Baird analyst Dave Manthey, who sent […]

Fastenal Co. (Nasdaq: FAST), Winona, Minnesota, reported third-quarter sales of $1.4 billion, a 2.5% increase compared with same period a year ago. Quarterly profit was $221.5 million, a 3.7% increase compared to the year-ago period. Fastenal said the 3Q increase was driven primarily by higher unit sales of safety products, where volume moderated relative to the […]

To continue reading this article you must be a paid subscriber. Subscribe to MDM Already Subscribed? Click here to log-in | Forgot your password? Des Spillings’ distribution career has a familiar ring to it. Twenty-five years ago, he joined Acorn Industrial Services Ltd. UK — a Sheffield, England-based distributor of bearings and mechanical power transmission […]

Wholesale trade showed moderate improvement in August, according to the latest report from the U.S. Census Bureau. August 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 $486.6 billion, up 1.4% (±0.5%) from the revised July level, but […]

It appears the third quarter wasn’t as bad as many thought it would be. Distributors posted an industry average of –3.2% growth in the period, according to the latest quarterly MDM-Baird Distribution Survey. Though still negative, that’s a significant improvement from the disastrous second quarter — the height of the COVID-19 crisis — when distributors […]

Endries International Inc., Brillion, Wisconsin, on Thursday announce the acquisition of fellow Wisconsin fasteners distributor K&L Sales Inc. Financial terms of the deal weren’t disclosed. K&L was founded in 1985 in Waukesha, Wisconsin, by brothers Dave and Tom Knebes on the foundation distributing riveting products and associated installation tools. Today, the company’s offerings have expanded […]

Endries International Inc., Brillion, Wisconsin, on Thursday announce the acquisition of fellow Wisconsin fasteners distributor K&L Sales Inc. Financial terms of the deal weren’t disclosed. K&L was founded in 1985 in Waukesha, Wisconsin, by brothers Dave and Tom Knebes on the foundation distributing riveting products and associated installation tools. Today, the company’s offerings have expanded […]

Endries International Inc., Brillion, Wisconsin, on Thursday announced the acquisition of fellow Wisconsin fasteners distributor K&L Sales Inc. Financial terms of the deal weren’t disclosed. K&L was founded in 1985 in Waukesha, Wisconsin, by brothers Dave and Tom Knebes on the foundation distributing riveting products and associated installation tools. Today, the company’s offerings have expanded […]

Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Sept. 28 to Oct. 2 indicated a 4.8% increase compared with the same week a year ago. The eccentricities of the calendar are unlikely to have impacted the reported growth as both weeks in 2019 and 2020 included the last day […]

NetPlus Alliance, the Lockport, New York-based North American industrial and contractor supplies buying group, said Thursday it has restructured the NetPlus team and named several staff promotions. “Our people and culture are the key to our continued success at NetPlus,” said Jennifer Murphy, president of NetPlus Alliance. “We have always been focused on growth, and […]

Coastal Construction Products, Jacksonville, Florida — an independent distributor of caulking and sealants, waterproofing, concrete restoration and firestopping materials in the U.S. — has opened a showroom and warehouse in Raleigh. The branch will support customers working in the Carolinas and Virginia. “We are pleased to expand our presence in the Carolinas with a new […]

Safety products manufacturer SureWerx, Elgin, Illinois, has appointed Christian Wiltrout as global COO, effective immediately. Wiltrout previously held the position of president, SureWerx USA. “As our company continues to undergo significant transformation, there is no better person to lead all aspects of SureWerx’s commercial activities, into our next stage of business legacy, than Christian Wiltrout,” […]

Applied Industrial Technologies (NYSE: AIT), Cleveland, Ohio, on Wednesday announced it has acquired Advanced Control Solutions, a Marietta, Georgia-based provider of automation products, services and engineered solutions. Financial terms of the deal were not disclosed. “The addition of ACS extends and enhances our automation offering by providing next generation automation solutions through emerging technologies and […]

Connecting with colleagues, customers and even competitors has been transformed during COVID-19. Staff meetings, sales calls and industry conferences have taken place almost exclusively on a screen. But while most of us have become adept at Zoom, Skype, Webex and myriad other online interactive platforms, one important question remains: Will this trend of virtual events […]