Scott Teerlinck, president and CEO of East Dubuque, Illinois-based Crescent Electric Supply has been named a “CEO to Watch” by Family Business Magazine. Teerlinck is the second non-family-member CEO of Crescent, which was founded more than 100 years ago. He joined the company in May 2020. “Scott has brought a fresh perspective and a sense […]
Category: Operations
Forbes: WESCO Among Best Employers
Forbes Magazine says Pittsburgh-based WESCO International Inc. is among the World’s Best Employers and one of America’s Best Employers for Women. The awards were presented by Forbes and Statista Inc., a statistics portal and industry ranking provider. The awards were selected based on independent surveys of 150,000 full-time and part-time workers from 58 countries around […]
Interfor to Acquire EACOM
Interfor Corporation — a British Columbia-based, growth-oriented forest products company with operations in Canada and the U.S. — has reached an agreement with an affiliate of Kelso & Company to acquire 100% of the equity interests of EACOM Timber Corporation. EACOM is based in Quebec. The purchase price was more than $383 million (C$490 million) […]
Deere Fiscal 4Q Improves
Moline, Illinois-based Deere & Company reported net income of $1.283 billion for the fiscal fourth quarter of 2021, compared with net income of $757 million for the quarter ending Nov. 1, 2020. For fiscal year 2021, net income attributable to Deere & Company was $5.963 billion, or $18.99 per share, compared with $2.751 billion, or […]
Synergy Group Nets Green Award
Synergy Group, a Singapore-based ship manager, earned the first Green Award certificate given to a container ship, the company said. The company earned the certificate for its Cap San Maleas vessel, a seven-year-old, 131,095 dead-weight tonnage ship. Surveyors for the Green Award, an organization based in the Netherlands, awarded Synergy Group the certificate after performing […]
US LBM to Acquire Barrons
US LBM, a building materials distributor based in Buffalo Grove, Illinois, says it has reached an agreement to acquire Barrons, a provider of lumber and building materials to professional builders in the Washington, D.C. metro area. Financial terms were not disclosed. Barrons serves professional builders including remodelers, custom home builders and outdoor living builders with […]
Regal Rexnord Acquires Arrowhead
Beloit, Wisconsin-based Regal Rexnord (NYSE: RRX) acquired Oshkosh-based Arrowhead Systems, a producer of industrial process automation solutions, including conveyors, palletizers and depalletizers to the food and beverage, aluminum can and consumer staple industries. Regal Rexnord, a manufacturer of industrial powertrain solutions, power transmission components, electric motors and electronic controls, announced the acquisition Tuesday. Financial terms […]
84 Lumber Opens in Idaho
Pennsylvania-based 84 Lumber Company this week opened its first Idaho store, near the state capital of Boise. The building materials, manufactured components and services supplier for family residences and commercial buildings said the store opening is part of a company effort to “meet a growing need for lumber and building materials across the Pacific Northwest.” […]
MiddleGround Acquires Race Winning
Lexington, Kentucky-based MiddleGround Capital, a private equity firm that invests in middle market B2B industrial and specialty distribution companies, acquired Race Winning Brands. RWB is a designer, manufacturer and distributor of branded automotive aftermarket and powersports aftermarket products for enthusiasts and racing consumers. The company consists of a 12-brand portfolio of high-performance aftermarket product categories, […]
PAC-12 Picks US LBM as Sponsor
US LBM, a building materials distributor based in Buffalo Grove, Illinois, was awarded naming rights for the upcoming inaugural Pac-12 Coast-to-Coast Challenge NCAA basketball event. The Pac-12 Conference and Oak View Group made the announcement this week. The event will be held Dec. 19 at T-Mobile Arena in Las Vegas and will feature a men’s […]
BlackHawk Acquires Tools for Industry
Tulsa, Oklahoma-based BlackHawk Industrial — a distributor of metalworking, industrial, MROP and packaging supplies — acquired Dayton, Ohio-based Tools for Industry and its affiliate, Service for Industry. Financial terms were not disclosed. The acquisition strengthens BlackHawk’s presence in southwestern Ohio, the company said. “Not only are we picking up a great team with a broad […]
ISSA Names 2021 Honorees
Trade association ISSA recently named it 2021 Achievement Award honorees during a ceremony in Las Vegas. The awards are given each year to “cleaning industry professionals who are committed to changing the way the world views cleaning,” ISSA said. “The ISSA Achievement Awards recognize both seasoned professionals and rising stars who are passionate about the […]
HARDI Exec VP Departing
Executive Vice President Emily Saving is leaving Heating, Air-conditioning & Refrigeration Distributors International (HARDI) at the end of the year, the Columbus, Ohio-based company said. Nick Benton will be promoted to vice president of operations. Saving joined the HARDI in 2010 as education service manager and revamped the company’s education and professional development programs and […]
ABC Names Chair and Exec Committee
The Associated Builders and Contractors Board of Directors selected its 2022 national chair and executive committee. During a recent meeting in Aventura, Florida, board members elected Stephanie Schmidt, president of Poole Anderson Construction in State College, Pennsylvania, as 2022 national chair of the board of directors. “As the fourth woman to serve the association in […]
Beacon 4Q Sale Up 6.9%
Roofing material and building products distributor Beacon (Nasdaq: BECN) reported 2021 fiscal fourth-quarter sales of $1.88 billion, a quarterly record for continuing operations. The fiscal 4Q net sales totals were 6.9% above the same quarter a year ago. Net income from continuing operations was $104.5 million, compared to $68.2 million in 2020 4Q. Residential roofing […]
AZEK Sees 4Q Rebound
Chicago-based AZEK Company Inc., a manufacturer of low-maintenance and environmentally sustainable outdoor living products, announced fiscal 2021 fourth-quarter net sales of $346.1 million, a 31.1% increase over the same period in 2020. “The AZEK Company delivered another impressive quarter and year – our first full year as a public company – with record growth in […]
NSI Acquires Duro Dyne
Huntersville, North Carolina-based provider of electrical product solutions NSI Industries, LLC acquired Duro Dyne Corp., a Bay Shore, New York-based sheet metal manufacturer for the heating, ventilating and air conditioning industry. Financial terms were not disclosed. NSI said the acquisition adds the HVAC market to the company’s distribution model with a company that already has […]
New Practices in a Pandemic Recruiting Battle
There is a war on top talent, and distributors need to arm themselves with a different set of tools to be successful, according to John Salvadore, managing partner at Global Recruiters Network-Coastal (GRN Coastal), a search firm specializing in distribution and manufacturing. “In the past, it was always the company looking at the candidate and […]
FleetPride Acquires Jim’s Truck & Trailer
Irving, Texas-based FleetPride Inc. acquired the assets of Jim’s Truck & Trailer Equipment, which provides heavy-duty parts and services to customers in north Texas and southwest Oklahoma. Financial details were not disclosed. Jim’s Truck & Trailer Equipment is based in Wichita Falls, Texas, and was founded in 1971. The company, owned by Jim Martin, offers […]
Bunzl Acquires 2 U.K. Companies
International distribution and services group Bunzl plc acquired two companies based in the U.K. Bunzl acquired Workwear Express, based in Durham, U.K., a leading business in personalized workwear and promotional clothing with a strong e-commerce focus. Workwear Express serves a “broad range of customers” and in the year to March 2021 generated £29 million of […]
