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Category: Business Texting

ISM: Manufacturing Grew in November

ISM: Manufacturing Grew in November

Economic activity in the manufacturing sector grew last month, with the overall economy achieving an 18th consecutive month of growth, according to the latest Manufacturing ISM Report on Business. Timothy R. Fiore, chair of the Institute for Supply Management, released the report. The November Manufacturing PMI registered 61.1%, an increase of 0.3 percentage point from […]

Beacon Sells Off Solar Products

Beacon Sells Off Solar Products

Herndon, Virginia-based roofing material and building products distributor Beacon (Nasdaq: BECN) has sold its solar products business to BayWa r.e., a renewable energy developer, service supplier and systems provider. Beacon’s solar business features four dedicated and six shared branch locations, where the company distributes solar products to residential and commercial contractors. The business was part […]

What the Infrastructure Bill Means for Distributors 

What the Infrastructure Bill Means for Distributors 

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Southwire Acquires OBI

Southwire Acquires OBI

Carrollton, Georgia-based Southwire Company, LLC has acquired OBI Partners Inc., an Alpharetta, Georgia-based digital solutions provider focused on electric utilities. Financial terms were not announced. Southwire said the deal supports the company’s growth strategy and strengthens its commitment to remain “generationally sustainable.” “The marketplace is demanding intelligent solutions to their electrical distribution needs, and through […]

McNaughton-McKay Closes Caniff Acquisition

McNaughton-McKay Closes Caniff Acquisition

Madison Heights, Michigan-based electrical product distributor McNaughton-McKay Electric Company has finalized its acquisition of Caniff Electric Supply, an independent electrical distributor of construction products in southeast Michigan. McNaughton-McKay announced in August it had reached an agreement in principle to acquire Caniff. Financial terms were not disclosed. “We are excited to complete the acquisition of Caniff […]

AMETEK Acquires Alphasense

AMETEK Acquires Alphasense

Berwyn, Pennsylvania-based manufacturer AMETEK acquired Alphasense, a provider of gas and particulate sensors for use in environmental, health, safety and air quality applications. Financial terms were not disclosed. “We are excited to welcome Alphasense to AMETEK,” said David A. Zapico, AMETEK chairman and CEO. “Alphasense is an excellent acquisition for AMETEK and a highly complementary […]

US LBM Acquires Pro. Builders Supply

US LBM Acquires Pro. Builders Supply

US LBM, a building materials distributor based in Buffalo Grove, Illinois, acquired Professional Builders Supply, a “top supplier” of building materials to local, regional and national custom and production builders in North Carolina and South Carolina, US LBM announced. Professional Builders Supply operates 12 locations, where it sells, installs and distributes residential and commercial building […]

Oct. Construction Spending Up

Oct. Construction Spending Up

Construction spending last month was estimated at a seasonally adjusted annual rate of $1,598 billion, 0.2% above the revised September estimate of nearly $1,595 billion, according to a report from the U.S. Census Bureau. The recent October number is 8.6% higher than the October 2020 estimate of almost $1,472 billion. During the first 10 months […]

Fieldpiece Instruments and SkillsUSA Join Forces to Deliver Scholarships Supporting the HVACR Industry

Fieldpiece Instruments announced it has joined forces with SkillsUSA to present $25,000 in scholarship opportunities as a way to give back to the industry it serves.

Jobber Announces Second Annual Professional Development Day for Home Service Businesses

Jobber announced that its annual Jobber Professional Development (PD) Day will be held on Wednesday, February 16, 2022, from 11:00 a.m. to 4:00 p.m. ET. 

ASA distributors report sales increase in October

ASA’s monthly sales report shows October 2021 results that reflect another month of robust performance compared to the same month a year ago. Year-to-date and trailing-twelve-month figures remained strong when compared against 2020, a year that had multiple weeks, if not months of closures or partial closures.

November M&A Roundup: Brady IFS, Graybar, US LBM Ink Multiple Deals

November M&A Roundup: Brady IFS, Graybar, US LBM Ink Multiple Deals

November 2021 was a busy month on the M&A front for multiple companies, including Brady IFS, Graybar and US LBM, all of which struck more than one deal during the month. The M&A activity continued an upward trend from October, as well as this year’s third quarter. (See MDM’s 3Q 2021 M&A report for a […]