Eric Smith

Another month of the U.S. economy muddling through the COVID-19 crisis, another period of distribution M&A showing signs of returning to normal. September marked the second straight month of about a dozen deals in the space, and it started with a bang when MRO distributor Lawson Products Inc. announced the largest acquisition in company history, […]

Another month of the U.S. economy muddling through the COVID-19 crisis, another period of distribution M&A showing signs of returning to normal. September marked the second straight month of about a dozen deals in the space, and it started with a bang when MRO distributor Lawson Products Inc. announced the largest acquisition in company history, […]

Another month of the U.S. economy muddling through the COVID-19 crisis, another period of distribution M&A showing signs of returning to normal. September marked the second straight month of about a dozen deals in the space, and it started with a bang when MRO distributor Lawson Products Inc. announced the largest acquisition in company history, […]

Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Sept. 21 to Sept. 25 indicated a 0.7% decrease compared with the same week a year ago. When looking at average daily sales, this is the first decrease since the beginning of August (the period of Sept. 7-11 was a four-day […]

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 4.5% during August. The average annual sales growth for the 12 months through August is 2.5%. “August 2020 had about the same number of cooling degree days, […]

US LBM Holdings, a distributor of specialty building materials in the United States, has opened a new roofing and siding location in Lakeland, Florida. The yard is the fifth new location that US LBM has opened this year. “Central Florida continues to be a growing construction market, and this new location builds on US LBM’s strategy of expanding […]

Real gross domestic product (GDP) decreased at an annual rate of 31.4% in the second quarter of 2020, according to the “third” estimate released Wednesday by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 5%. The “third” estimate of GDP is based on more complete source data than were available for […]

The U.S. Census Bureau this week released advance indicators showing that the international trade deficit and wholesale inventories both increased in August. The international trade deficit was $82.9 billion in August, up $2.8 billion from $80.1 billion in July. Exports of goods for August were $118.3 billion, $3.2 billion more than July exports. Imports of […]

ISA has launched registration for its next virtual event for 2020, the inaugural Women in Industry Virtual Summit, October 21-22, from 1 p.m. to 4:30 p.m. EST. Powered by the ISA network W.I.S.E. (Women Industrial Supply Executives), this two-day virtual event is open to women at all levels within the Industrial Supply Channel, allowing attendees […]

Ferguson, one of the more acquisitive companies in distribution, paused M&A activity back in March. The COVID-19 crisis brought too much uncertainty not only to the deal environment but also the economic landscape as a whole. But with business settling into a new normal and fiscal 2020 now complete, the UK-based distributor — which has […]

Ferguson PLC, Wokingham, United Kingdom, reported sales of $21.8 billion for fiscal year 2020 ended July 31, down 0.9% compared to fiscal year 2019. Profit of $1.3 billion marked a 4.8% decrease from the year-ago period. The company said ongoing revenue was 2% ahead of last year with continued market share gains in the U.S. […]

Ferguson PLC on Tuesday announced the appointment of Bill Brundage as CFO and an executive director, effective November 1. Brundage is currently CFO of Ferguson Enterprises, a position he has held since March 2017. Brundage has more than 17 years of experience in a variety of senior finance roles at Ferguson Enterprises. In 2008, he […]

Snap-on Inc. (NYSE: SNA), Kenosha, Wisconsin, on Tuesday announced that it acquired AutoCrib Inc. for $36 million. Based in Tustin, California, with 2019 sales of approximately $30 million, AutoCrib is a designer, manufacturer and marketer of tool and asset control solutions. AutoCrib will be part of Snap-on’s Commercial & Industrial Group, effective with Snap-on’s 2020 fiscal fourth quarter. […]

Industrial and safety master distributor Alliance Distribution Partners, Gallatin, Tennessee, on Monday announced that Adam Crews has joined the company as vice president of sales. In his new role, Crews will be managing all sales operations for Alliance and work to accelerate the company’s growth and expansion plans. “Adam is an outstanding addition to the […]

Swedish manufacturer Atlas Copco announced Monday it has agreed to acquire Perceptron (Nasdaq: PRCP), a publicly traded supplier of automated metrology solutions, for SEK 630 million (US$68.9 million). Perceptron employs around 300 and is headquartered in Plymouth, Michigan. In the fiscal year 2020 Perceptron had revenues of SEK 569 million (US$62.3 million). The company will […]

New orders for manufactured durable goods in August increased $1 billion or 0.4% to $230.7 billion, according to the U.S. Census Bureau. This increase, up four consecutive months, followed an 11.7% July increase. Excluding transportation, new orders increased 0.4%. Excluding defense, new orders increased 0.7%. Machinery, also up four consecutive months, led the increase, $0.5 […]

Building materials distributor announced Friday that it has acquired two companies — CB Wholesale in Washington and RSI Building Products in Louisiana. Both companies specialize in the distribution of residential & commercial roofing, drywall and other related products. Financial terms of the agreements were not disclosed. Headquartered in Bellingham, Washington, CB was founded in 1982 […]

To continue reading this article you must be a paid subscriber. Subscribe to MDM Already Subscribed? Click here to log-in | Forgot your password? The post M&A in the Time of COVID-19: Lawson Products Executives Talk Business Growth Strategy Amid Upheaval appeared first on Modern Distribution Management.

To continue reading this article you must be a paid subscriber. Subscribe to MDM Already Subscribed? Click here to log-in | Forgot your password? The post M&A in the Time of COVID-19: Lawson Products Executives Talk Business Growth Strategy Amid Upheaval appeared first on Modern Distribution Management.

Another summer month, another upbeat home sale report. Sales of new single-family houses in July were at a seasonally adjusted annual rate of 1,011,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 43.2% above the August 2019 estimate of 706,000 and 4.8% […]