Eric Smith

West Chester, Pennsylvania-based Omni Cable LLC on Wednesday announced that it has completed its $91 million acquisition of Houston Wire & Cable Co. following approval of the transaction by HWCC stockholders at a special meeting earlier in the day. The transaction was announced on March 25. Under the terms of the merger agreement, HWCC stockholders […]

Swedish industrial manufacturer Atlas Copco on Monday announced it has acquired Compressed Air Systems Inc., a Salisbury, North Carolina-based distributor of compressors. Financial terms of the deal weren’t disclosed. Compressed Air Systems (CAS) has 30 employees and covers markets in its home state and neighboring states. “CAS has a strong service business and a very […]

To continue reading this article you must be a paid subscriber. Subscribe to MDM Already Subscribed? Click here to log-in | Forgot your password?  Supply chain snags have been a problem for companies all year. For example, freezing temperatures in Texas resulted in chemical plants struggling to meet the growing demand for such products as […]

Wholesale trade improved in April compared to the same month a year ago and was up from the previous month of March, according to the latest report from the U.S. Census Bureau. April 2021 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not […]

Landscape distributor Heritage Landscape Supply Group Inc., a McKinney, Texas-based subsidiary of SRS Distribution, announced that it has acquired two companies — Southern Stone Supply of Raleigh, North Carolina, and Scott Stone of Mebane, North Carolina. Financial terms of the deals weren’t disclosed. Southern Stone Supply was founded in 2016 by partners Eric Mullen and […]

SBP Holdings, Dallas, Texas, this week announced it has acquired Kenco Hydraulics and subsidiaries. Financial terms of the deal weren’t disclosed. Kenco Hydraulics, which provides sales and repair services for all types of hydraulic products, will operate within the fluid power/automation platform (Dakota Fluid Power) for SBP Holdings. This platform is the third business vertical […]

Fastenal Co. (Nasdaq: FAST), Winona, Minnesota, reported May sales of $477.2 million, down 3.2% from the same month a year ago. The company reported daily sales of $23.9 million, also down 3.2% versus a year ago. By region, U.S. sales decreased 6.1%, Canada/Mexico sales improved 32.1% and “rest of world” sales fell 23.1%. By end market, […]

Specialty building materials distributor US LBM Holdings LLC, Buffalo Grove, Illinois, on Thursday announced it has agreed to acquire J.P Hart Lumber and Hart Components, a building products distributor and manufacturer with eight locations across Texas. Financial terms of the deal weren’t disclosed. Upon completion of the acquisition, US LBM will operate 65 locations in […]

MSC Industrial Supply Co. (NYSE: MSM), Melville, New York, on Tuesday announced it has acquired a majority interest in Wm. F. Hurst Co., LLC, a Wichita, Kansas-based distributor of metalworking tools and supplies with a significant presence in the aerospace industry. Financial terms of the deal weren’t disclosed. Wm. F. Hurst will continue to go to […]

M&A returned to a healthy volume in May, with some of MDM’s Top Distributors announcing acquisitions during the month. Builders FirstSource, Watsco and DXP Enterprises each made acquisitions, while some distributors — including US LBM Holdings and SiteOne Landscape Supply — acquired multiple companies. There were many more notable transactions, of course, and in case […]

Landscape distributor Heritage Landscape Supply Group Inc., a McKinney, Texas-based subsidiary of SRS Distribution, on Tuesday announced that its Irrigation Station business has opened six new locations across Texas in Katy, Conroe, San Antonio, Austin, Mansfield, and Richland Hills. The company said all locations will carry a full line of irrigation and landscape supplies, outdoor […]

New orders for manufactured durable goods in March decreased $3.2 billion, or 1.3%, to $246.2 billion, according to the U.S. Census Bureau. Manufactured durable goods, which had increased 11 consecutive months, had been up 1.3% in March. Excluding transportation, new orders increased 1%. Excluding defense, new orders were virtually unchanged. Transportation equipment, down two consecutive […]

The U.S. Census Bureau this week released advance indicators showing that the international trade deficit declined while wholesale inventories increased in April. The international trade deficit was $85.2 billion in April, down $6.8 billion from $92 billion in March. Exports of goods for April were $144.7 billion, $1.7 billion more than March exports. Imports of […]

Real gross domestic product (GDP) increased at an annual rate of 6.4% in the first quarter of 2021, according to the “second” estimate released Thursday by the Bureau of Economic Analysis. In the fourth quarter of 2020, real GDP increased 4.3%. The second GDP estimate is based on more complete source data than were available […]

At the National Association of Electrical Distributors’ virtual national meeting on Wednesday, NAED President and CEO Tom Naber announced that, beginning this fall, the association will go back to holding in-person events. The first will be the NAED Eastern Regional Conference in November. “I am happy to report that we are preparing to host 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? • Building a pipeline of talent will help you compete and keep your growth in line with the economy. • Areas where distributors have struggled to keep pace with other industries […]

Landscape distributor Heritage Landscape Supply Group Inc., a McKinney, Texas-based subsidiary of SRS Distribution, on Friday announced that it has acquired Beehive Brick & Stone, a family-owned distributor of pavers, natural and manufactured stone, brick, and other complementary landscape products. Financial terms of the deal weren’t disclosed. Based in Salt Lake City, Utah, Beehive is […]

Landscape distributor Heritage Landscape Supply Group Inc., a McKinney, Texas-based subsidiary of SRS Distribution, on Friday announced that it has acquired Beehive Brick & Stone, a family-owned distributor of pavers, natural and manufactured stone, brick, and other complementary landscape products. Financial terms of the deal weren’t disclosed. Based in Salt Lake City, Utah, Beehive is […]

Bunzl PLC on Tuesday announced that it has acquired Obex Medical Holdings, a medical distribution business serving hospitals and other health care providers in New Zealand. Financial terms of the deal weren’t disclosed. Headquartered in Auckland, Obex reported 2020 revenue NZD 51 million (US$36.9 million). The acquisition should be complete by June. “I am pleased […]

When the massive container ship Ever Given got stuck in the mud outside the Suez Canal at the end of March, it became the poster child for the ongoing supply chain crisis. Yes, the vessel’s two-week immobility slowed the movement of goods around the world, but that grounded ship was a relatively small snarl for […]