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.
Category: Industry Events
Why Key Account Programs Need Constant Measurement
Key Accounts are a sizable and important segment for most mid-sized and larger distributors. While the exact definition of key accounts differs depending on the distributor, we’ll define key accounts as large volume customers with multiple locations (e.g., branches, dealerships) that span multiple sales territories or regions. Key accounts often involve multiple buyers and influencers […]
Heritage Landscape Acquires Wirtz
Heritage Landscape Supply Group, Inc., a McKinney, Texas-based subsidiary of SRS Distribution, acquired Wirtz & Daughters Landscape Supply, a family-owned distributor of bulk materials, hardscapes, natural stone, landscape lighting and other landscape products. Financial details were not disclosed. SRS ranks No. 6 on MDM’s Top Distributors list for building materials and construction distributors, with $3.8 […]
US LBM Acquires BuilderUp
Building materials distributor US LBM, Buffalo Grove, Illinois, has acquired Mid-Atlantic company BuilderUp, a regional building products distributor and manufacturer. Financial details of the agreement were not disclosed. US LBM Holdings Inc. ranks No. 5 on MDM’s Top Distributors list for building materials and construction with $4.3 billion in 2020 revenue. BuilderUp currently operates three […]
Grainger Sales Jump 11.7%
Grainger (NYSE: GWW), Chicago, reported 2021 third-quarter sales of $3.4 billion, up 11.7%, compared to the third quarter of last year. Grainger’s 2021 3Q operating earnings were $438 million, up 17.4% versus 2020 and resulting in EPS of $5.65, growth of 25% versus the third quarter of 2020. The company returned $327 million to shareholders […]
New Member Spotlight — MGM Transformer Company
NAED would like to welcome one of its newest Associate Manufacturers, MGM Transformer Company.
Bathica Names Vice President of Business Development
Bathica has named Gerry Wagner, vice president of business development for the TOSOT brand of HVAC equipment in Canada.
How Much Do You Know About HVAC Service?
Whether you’re the owner of an HVAC contracting company or a student at a tech school, take this quiz to find out how much you know about servicing equipment.
Amazon 3Q Sales Increase 15%
Amazon.com Inc. (Nasdaq: AMZ) reported sales of $110.8 billion in the third quarter of 2021, a 15% increase over the same period last year. Amazon’s 3Q net income decreased to $3.2 billion, or $6.12 per diluted share, compared with $6.3 billion, or $12.37 per diluted share, in the third quarter of 2020. Net product sales […]
Avnet 1Q Sales Grow
Avnet Inc. (Nasdaq: AVT) of Phoenix reported 2022 fiscal first-quarter sales of $5.6 billion, topping the previous quarter by about $400 million. The first-quarter sales were an 18.2% increase over the fiscal first quarter in 2021. Avnet ranks No. 2 on MDM’s Top Distributors list for electronics distributors, with $17.6 billion in 2020 revenue. “Building […]
Electric, Block Chain, AI Will Reshape Distribution Quickly
There’s a maelstrom of emerging technologies and services for distributors to monitor, according to Simon Anderson. In particular, electric, block chain and AI will reshape distribution, and quickly. Anderson, a self-described futurist, last week delivered the keynote address during the Power Transmission Distributors Association’s 2021 Industry Summit in Atlanta. As a futurist, Anderson said he […]
Electric, Blockchain, AI Will Reshape Distribution Quickly
There’s a maelstrom of emerging technologies and services for distributors to monitor, according to Simon Anderson. In particular, electric, blockchain and AI will reshape distribution, and quickly. Anderson, a self-described futurist, last week delivered the keynote address during the Power Transmission Distributors Association’s 2021 Industry Summit in Atlanta. As a futurist, Anderson said he looks […]
Ingersoll Rand to Acquire Air Dimensions for $70.5M
Ingersoll Rand Inc. (NYSE:IR), a global provider of mission-critical flow creation and industrial solutions, will acquire Deerfield Beach, Florida-based Air Dimensions Inc. for $70.5 million. The all-cash deal is expected to close Friday, Ingersoll Rand announced. Air Dimensions designs, manufactures and sells vacuum diaphragm pumps primarily for environmental applications in high-growth, sustainable end markets such […]
Real GPD Grows 2%
Real gross domestic product (GDP) increased at an annual rate of 2% in the third quarter of 2021, according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 6.7%. The GDP estimate released Thursday is based on source data that are incomplete or subject to further […]
Lawson Sales Up 16.9%
Lawson Products, Inc. (NASDAQ: LAWS) reported $105.6 million in sales for the third quarter of 2021 and $315.7 million in sales for the first nine months of the year. The third-quarter sales numbers were 16.9% above the same period for 2020, while the year-to-dale sales earnings were 24.5% over last year. “Lawson generated solid operating […]
HARDI Revenue Up 21%
Heating, Air-conditioning & Refrigeration Distributors International (HARDI), of Columbus, Ohio, released its monthly TRENDS report, which shows a 21% revenue increase for September. The average annual sales growth for the 12 months through September 2021 was 19.6% percent. “Demand continued strong through the last month of the 2021 cooling season,” said HARDI […]
AGCO Sales Increase 9.1%
Farm equipment manufacturer and distributor AGCO (NYSE: AGCO) from Duluth, Georgia, reported third-quarter sales of approximately $2.7 billion, a 9.1% increase over the same period in 2020. Net sales for the first nine months of 2021 were approximately $8 billion, a 24% increase compared to the same period in 2020. For the first three quarters […]
Munch’s Supply Raises More Than $24,000 for St. Jude
Employees from Munch’s Supply participated in the virtual St. Jude’s Walk/Run to End Childhood Cancer on Sept. 25.
Speakers Explain How HVAC Contractors Must Structure Assets to Protect Them
There are many legal challenges to making and keeping money. One is taxes and the other is lawsuits.
Chris Fasano: Establishing and delivering a bold vision
It’s easy to rest on your laurels when things are going well. Some may not think to stretch your organization out of fear that you will get in the way of a “good thing.” Remember the old adage — “If it ain’t broke, don’t fix it.”
