Because of an increase in residential construction activity compared to the third quarter of last year, 2021 3Q sales for building materials distributor Huttig Building Products (NASDAQ: HBP) were $245.3 million, a 15.3% jump over 2020. Huttig’s net income for the third quarter of 2021 was $18.7 million, a substantial increase over the reported $6.1 […]
Category: Operations
Lessons From the Top: Leading Distributors Open Their Playbooks
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US LBM Expands Again
Buffalo Grove, Illinois-based building materials distributor US LBM opened a new roofing and siding location in Millsboro, Delaware. US LBM says the move will allow it to expand its reach and product offering in the Mid-Atlantic region. The location is the company’s second to open in Delaware this year and the company’s 12th roofing- and […]
Graybar Acquires Metro
St. Louis-based electrical, communications and data networking distributor Graybar acquired Metro Electric Supply and Metro Lighting, a regional distributor that primarily serves homebuilders and contractors that specialize in residential, commercial and industrial projects. Financial details of the deal were not disclosed. Metro is also based in St. Louis. Metro is a regional distributor that serves […]
Global Industrial 3Q Sales Down
Global Industrial Co. (NYSE: GIC), the Port Washington, New York-based parent of Global Industrial, saw net sales and income drop in 2021’s third quarter compared to the same time a year ago. Net sales and income for the first nine months of the year, however, remained ahead of 2020 levels. The company reported 3Q net […]
SiteOne Sales Up 25%
SiteOne Landscape Supply Inc. (NYSE: SITE), Roswell, Georgia, had 2021 third-quarter sales of $936.4 million, a 25% increase over the same period last year. The company’s 3Q net income also increased year-over-year, by 66% to $80 million. SiteOne reported gross profit of $340.5 million for 3Q, a 36% jump over last year. “Our excellent momentum […]
Growth Firm Invests in Parts Town
Los Angeles-based growth investment firm Leonard Green & Partners, L.P. has invested in Parts Town, a distributor of original-equipment-manufacturer foodservice parts. Addison, Illinois-based Parts Town called the investment “significant,” though no financial details were disclosed. Existing investor Berkshire Partners will retain its majority stake in the company, reinvesting alongside the Parts Town management team and […]
Graybar Acquires Steven Engineering
St. Louis-based electrical, communications and data networking distributor Graybar completed its acquisition of Steven Engineering, Inc., an automation, motion control and pneumatic solutions company based in South San Francisco. Financial terms of the deal were not disclosed. As a subsidiary of Graybar, the company will operate under the Steven Engineering name with the same leadership […]
October M&A Roundup: Blockbuster Electrical Deal Highlights Busy Month
The electrical sector saw a major shakeup last month with Rexel’s $456 million of Mayer Electric, but that wasn’t the only deal to turn heads in October. During the period, more than a few Top Distributors made market-shifting moves, including Core & Main, Kaman Distribution, SRS Distribution, US LBM Holdings and Winsupply. Steady activity has […]
Kennametal 1Q Sales Jump
Pittsburgh-based Kennametal Inc. (NYSE: KMT) had fiscal 2022 first-quarter sales of $484 million, a 21% increase over the same period the prior year. Operating income for the quarter was $55 million, or 11.3% of sales, while net income was approximately $36 million. In the same quarter a year ago, the company reported losses. The company […]
BradyIFS Acquires Millennium
Foodservice and janitorial and sanitation distributor BradyIFS acquired Millennium Packaging & Distribution, a San Antonio-based company offering disposables, dry goods, janitorial, cleaning and facility supplies. Financial terms of the acquisition were not disclosed. The deal expands BradyIFS’ sales presence and distribution footprint across Texas and the Midwest and provides Millennium’s customers with access to an […]
Skip DeVilling to Retire
Industrial supply industry veteran F. A. “Skip” DeVilling III will retire next month, according to an announcement from DeVilling & Associates, LLC of Sarasota, Florida. “I would like to thank my constituents, mentors, and friends, who helped me throughout my career,” DeVilling said in a statement. “I am so grateful! We never do this by […]
US LBM Acquires Arrowhead
Building materials distributor US LBM, of Buffalo Grove, Illinois, acquired Arrowhead Stairs & Trim, a producer and installer of millwork, hardware and exterior cedar products in the Dallas-Ft. Worth area. 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 […]
Grainger Adding 100 Jobs
MRO distributor Grainger (NYSE: GWW) is expanding its customer service capabilities by adding approximately 100 new jobs to its Lake County, Illinois, headquarters. The company’s new customer service center will open in January, which will allow Grainger to “better support its growing customer base by continuing to deliver exceptional service,” the company said. The majority […]
Beacon Acquires Midway
Roofing material and building products distributor Beacon (Nasdaq: BECN) acquired Midway Sales & Distributing, Inc., a leading Midwest distributor of residential and commercial exterior building and roofing supplies. Midway serves customers at 10 locations across Kansas, Missouri and Nebraska. With annual sales of approximately $130 million, the acquisition “deepens Beacon’s already strong presence in the […]
Imperial Dade Acquires Nichols
Food service packaging and janitorial supply distributor Imperial Dade acquired Michigan-based Nichols Paper & Supply, the 43rd acquisition under Imperial Dade’s current leadership, the company announced. Financial terms of the agreement were not disclosed. Headquartered in Norton Shores, Michigan, Nichols is a distributor of janitorial supplies and industrial packaging run by Mike Olthoff, according to […]
Summit Opens New Service Center
Albuquerque-based Summit Electric Supply has opened a new, 6,500-square-foot Service Center in Richardson, Texas. The new center, which opened Monday, features a full counter, refreshment area, and a will-call desk for phone and online orders. “We’re happy to provide electrical supplies and unique solutions to the growing Richardson community,” said Service Center Manager Clay Choate. […]
AD Sales Increase 34%
Wayne, Pennsylvania-based industrial products wholesale buying group AD says sales in the first nine months of 2020 were $44 billion, an increase of 34% across its 13 divisions. Same-store sales were up 19%. Member companies’ purchases from AD supplier partners grew 31%, while net distributions to its members were up 41%. “Every single day, we’re […]
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 […]
