Global Industrial Company (NYSE:GIC) of Port Washington, New York, reported consolidated sales in the fourth quarter of 2021 decreased 4.3% to $262 million compared to 2020, but overall annual sales increased 3.3% to $1.06 billion. The 4Q of 2021 had 61 selling days, five fewer days than the same quarter in 2020. Sales increased 3.5% […]
Category: HVAC
MRC Global Yearly Sales Top $2.6B
MRC Global Inc. reported 2021 year-end sales of $2.66 billion, a 4% increase over 2020. The pipes, valves and fittings distributor also reported 2021 fourth-quarter sales of $686 million, an 18% increase over the same period in 2020. For the year, adjusted EBITDA was $146 million, 5.5% of sales, a 51% improvement over 2020. In […]
Gryphon Investors Acquires Benoist Brothers
Middle-market private equity firm Gryphon Investors has acquired Benoist Brothers Supply Co., a Midwest-based regional distributor of HVAC/R equipment, parts and supplies. Financial terms were not disclosed. Gryphon said it plans to operate the Company as an independent division of its Wittichen Supply Holding Company under the Benoist brand, alongside existing portfolio company Wittichen Supply […]
Submissions Open for 2022 Building a Higher Standard Awards
American Standard Heating and Air Conditioning is now accepting nominations for the brand’s fifth annual Building a Higher Standard Awards.
US Foods to Split CEO, Chair Roles
US Foods Holding Corp. (NYSE: USFD), one of the largest foodservice distributors in the country, will separate the roles of CEO and chair, the company announced. The change was made following a governance review by the company’s board of directors. Robert M. Dutkowsky, currently US Foods’ independent lead director, has been elected non-executive chair. Pietro […]
WESCO Reports ‘Record’ 4Q Sales
WESCO International Inc. (NYSE: WCC), Pittsburgh, Pennsylvania, reported “record” fourth-quarter sales to close out 2021. The company had $4.9 billion in sales during the quarter, a 17.5% increase over the same period in 2020. The company also reported 4Q operating profit of $220.3 million, as well as record net income attributable to common stockholders of […]
Danfoss Outlines Challenges, Opportunities in 2022
In a virtual press conference, Danfoss discussed several of its new technologies, as well as the challenges and opportunities the HVACR industry faces this year.
Uponor North America Named to the Top Workplaces USA 2022 List
Uponor North America was recently named to the Top Workplace USA 2022 list for companies with 500-999 employees.
Smaller Buildings Can Benefit From Building Automation Systems
Small- to medium-sized buildings make up about 94% of all commercial buildings in the U.S., according to the U.S. Energy Information Administration, yet only 13% of those buildings have a building automation system.
Genuine Parts Increases Dividend 10%
Genuine Parts Company (NYSE: GPC) announced a 10% increase in the regular quarterly cash dividend for 2022, marking the 66th consecutive year it has increased the dividend. The GPC Board of Directors increased the cash dividend payable to an annual rate of $3.58 per share compared with the previous dividend of $3.26 per share. The […]
How 4 Distributors are Building Supply Chain Resilience
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DriSteem Releases Webinar for K-12 Schools
DriSteem Corporation announced that they are offering a free on-demand webinar that addresses the important role of humidity control in reducing airborne virus transmissions in K-12 schools.
Sysco Closes Acquisition of Coastal Companies
Foodservice distributor Sysco Corp. (NYSE: SYY) of Houston has completed its acquisition of The Coastal Companies, a leading fresh produce distributor and value-added processor based in Laurel, Maryland. The deal previously was reported in December. Financial details were not disclosed. “The acquisition will operate as part of FreshPoint, Sysco’s specialty produce business, and enables FreshPoint […]
Heat Pump Awareness Grows from Residential, Commercial Customers
Consumer awareness and opinion of heat pumps are both improving, along with the technology. Manufacturers see a strong market ahead, although some challenges remain.
Harris Partners with Airgas, Distributes Oxy-fuel Torches for Kentucky Tornado Clean-up
Harris Products Group came together with its distributor Airgas to supply oxy-fuel torches and tips to several companies in Mayfield, Kentucky in the aftermath of a devastating tornado.
New Member Spotlight — Brandon Industries
Brandon Industries is a leading National Streetscape provider, at the forefront of enhancing the face of America’s neighborhoods while retaining their heritage. It is our goal to bring visually stunning spaces to life. We are located in McKinney, Texas, which is home to some of the most historic homes in the state. We manufacture and […]
HVAC Field-Service Computer Software, Apps Becoming a Staple
Computer software for HVAC contractors has expanded from a business management tool into a versatile asset that can also serve as a technician’s assistant, warehouse clerk, salesperson, and more.
Building a Better Customer Experience Through Technology Integrations & Data
Online booking and soft phone systems are two key integrations that will help with an enriched customer experience and more streamlined operations.
FYI: News Briefs in HVAC – February 14, 2022
For your information news briefs from a wide variety of categories within the HVAC industry. Price increases, mergers and acquisitions, award winners, and more are highlighted here each week.
Digital Products Provide Greater Control
All aspects of the world are becoming more digital, and that includes the realm of hydronics. A pair of recent product introductions prove that point.
