On Tuesday, Synnex Corp., Fremont, California, (SNX) on Tuesday reported fiscal third-quarter sales of $5.2 billion, down 1.9% from the prior fiscal third quarter. In the third quarter, Synnex’s net income of $94.7 million increased by 10.5% over the same quarter a year ago. “Results were consistent with expectations as ongoing industry-wide supply chain shortages […]
Mike Robuck
United Natural Foods Down Slightly in 4Q
United Natural Foods Inc. (UNFI), Providence, on Tuesday reported fiscal fourth-quarter net sales of $6.7 billion, a decrease of 0.5% from the same quarter a year ago. The organic and specialty foods distributor reported net income of $43 million in 4Q, a decrease of 18.9% from a year ago. For fiscal 2021, UNFI posted net sales […]
Ferguson Up 14.3% in Fiscal 2021
Ferguson PLC, (NYSE: FERG), based in Wokingham, United Kingdom, reported Tuesday that its fiscal year 2021 revenue climbed 14.3% from a year ago to $22.79 billion. Ferguson said the increase was mainly due to accelerated market share gains. Ferguson’s underlying trading profit for the year that ended July 31 was $2.1 billion, which marked a […]
Weiler Abrasives Names Hutchinson as Technical Applications Manager
Weiler Abrasives, Cresco, Pennsylvania, recently announced that Pete Hutchinson has rejoined the company in the position of technical applications manager. In his new role, Hutchinson will focus on technical product support and training, with responsibility for leading both its tactical and strategic efforts. “We are pleased to welcome Pete back to Weiler Abrasives,” said Scott […]
Conexiom Nabs $130M in Growth Funding
Vancouver-based Conexiom announced Tuesday that it has scored $130 million in growth investment from Warburg Pincus. With its investment, Warburg Pincus joined existing investors Luminate Capital, which retains a majority stake, and ICONIQ Growth Conexiom is a software-as-a-service (SaaS) platform that delivers automation outcomes across order to cash and procure to pay processes. Its roster […]
Pearlman Group Acquires Excel Cleaning and Restoration Supplies
Pearlman Group Acquires Excel Cleaning and Restoration Supplies Norcross, Georgia-based Pearlman Group announced Tuesday that it has acquired Excel Cleaning and Restoration Supplies. Terms of the transaction weren’t disclosed. Founded in 1988 and headquartered in Fort Myers, Florid, Excel is a distributor of professional cleaning, restoration, pressure washing, and janitorial equipment and supplies in the […]
US LBM Beefs Up Executive Leadership Team
Building materials distributor US LBM, Buffalo Grove, Illinois, announced on Monday that it has made several additions to its executive leadership team to support the company’s growth. “Building high performing teams is central to US LBM’s value proposition,” said US LBM President and CEO L.T. Gibson. “With a wide range of experience from both within […]
The Link Between Effective Change Management and ROI
Whether it’s implementing new digital tools, e-commerce platforms or pricing programs, distributors are undergoing transformations at a rapid clip. Those who have pivoted successfully have embraced change management as one of their core values. During the recent MDM webcast “Transformation Management: Capture Maximum Value” PROS Lead Strategic Consultant Bill Dudziak provided a detailed blueprint for […]
Specialty Building Products to Acquire Reeb Millwork Corporation
Specialty Building Products (SBP) — the Duluth, Georgia-based parent of U.S. Lumber and other businesses — on Monday announced it has inked a definitive agreement to acquire Reeb Millwork Corporation. Financial terms of the acquisition weren’t disclosed. Bethlehem, Pennsylvania-based Reeb is a fabricator and supplier of interior and exterior doors. SBP said the deal to […]
RelaDyne Acquires PPC Lubricants
Cincinnati-based RelaDyne, which offers lubricants, fuel, diesel exhaust fluid (DEF), and industrial reliability services, announced the acquisition of PPC Lubricants, a lubricant distributor in the Mid-Atlantic region. Financial terms of the deal weren’t available. PPC Lubricants, founded in 1977, is headquartered in in Jonestown, Pennsylvania. With more than 800 products, PPC serves customers in eight […]
RelaDyne Acquires Acquires PPC Lubricants
Cincinnati-based RelaDyne, which offers lubricants, fuel, diesel exhaust fluid (DEF), and industrial reliability services, announced the acquisition of PPC Lubricants, a lubricant distributor in the Mid-Atlantic region. Financial terms of the deal weren’t available. PPC Lubricants, founded in 1977, is headquartered in in Jonestown, Pennsylvania. With more than 800 products, PPC serves customers in eight […]
LINC Systems Buys Air-O Fasteners
Private equity firm Center Rock Capital Partners LP announced that LINC Systems, its industrial fastener and packaging distribution platform, has acquired Salt Lake City-based Air-O Fasteners. Financial terms of the deal weren’t disclosed. Family owned and operated since 1978, Air-O Fasteners is a distributor of fastening equipment and consumable products serving the construction and general […]
Sales Travel Will Continue to Be a Mixed Bag for Distributors in 2022
To continue reading this article you must be a paid subscriber. Subscribe to MDM Already Subscribed? Click here to log-in | Forgot your password? With the uncertainty of the COVID-19 variants, distributors need to embrace flexibility for how and where they conduct their sales calls with customers. Not being able to see customers in-person for […]
Search for Supply Chain Relief Continues
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 price of containers is throwing a wrench into supply chain logistics. • Some manufacturers have been unable to keep up with the increased demand by distributors because their suppliers […]
Webco Industries’ Sales Up 63% in 4Q
Webco Industries Inc. (OTC: WEBC), Sand Springs, OK, reported sales for the fiscal fourth quarter of 145.5 million, a 63.3% increase year-over-year. In the fourth quarter, Webco had net income of $13.4 million, or $15.41 per diluted share, compared to a $1.1 million, or a loss of $1.35 per diluted share, a year ago. For fiscal […]
U.S. and Canadian Lumber Prices Spike in 2Q
U.S. lumber prices reached unprecedented highs in the second quarter of this year, according to Wood Resources International. The costs for 2×4 framing pine lumber in the U.S. South averaged almost $800 calculating cubic meters (m3) in May, up from $210/m3 as recent as February 2020 and nearly four times as much as the 20-year average price for southern yellow […]
Report: Amazon Business to Hit $59B in U.S. Product Sales by 2025
Amazon Business is poised to more than double its U.S. product sales from this year to 2025 to top $59 billion by 2025, according to a report. According to eMarketer, Amazon Busines will grow its U.S. product sales by 43.5% year-over-year to reach $27.6 billion this year. Seattle-based Amazon doesn’t breakout Amazon Business’ revenue and […]
DXP Enterprises Completes Acquisition of Premier Water
MRO and industrial distributor DXP Enterprises Inc. (NASDAQ: DXPE), Houston, announced the completion of its acquisition of Premier Water, which is a distributor and provider of products and services that serves the water and wastewater treatment markets in North Carolina and South Carolina. Financial terms of the deal weren’t disclosed. Founded in 2005, Premier is headquartered […]
Parts Town Launches E-Commerce Marketplace
Parts Town has taken the wraps off of a new e-commerce marketplace to provide customers access to a one-stop shopping experience for its OEM foodservice replacement parts as well as products across a variety of new categories. By creating the marketplace, Parts Town is providing an online shopping experience for its customers instead of them […]
Earnest Machine CEO Talks Sales Transformation Lessons Learned
A few years ago, Kirk Zehnder, the CEO of Earnest Machine — a Cleveland-based master distributor and manufacturer of industrial fasteners — realized his company’s sales model wasn’t working. While the traditional model might have served a purpose in the past, it was now passé. He decided to embark on a sales transformation journey, which […]
