Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report, showing the average sales performance by HARDI distributors increased 35.3% percent during January 2022. The average annual sales growth for the 12 months ending in January is 25%, HARDI said. “The sales growth during January was helped by an extra billing day and […]
Category: Operations
Builders FirstSource Sees ‘Record’ Sales
Dallas-based building materials distributor Builders FirstSource, Inc. (NYSE: BLDR) says a big merger, double-digit organic growth and commodity inflation drove increases in net sales for the fourth quarter of 2021 and the year overall. The company reported 4Q net sales of $4.6 billion, an 83.1% increase over the same period in 2020. Net sales for […]
TriMas Acquires Intertech Plastics
TriMas (NASDAQ: TRS), a Bloomfield Hills, Michigan-based manufacturer of engineered and applied products has acquired Intertech Plastics, a provider of complex, precision injection molded components. Financial details were not disclosed. Intertech, which consists of two manufacturing facilities located in Denver, will become part of TriMas Packaging, effective immediately. Intertech previously operated as a private, family-owned […]
Bunzl Yearly Revenues Grow
Bunzl plc, a specialist international distribution and services group, says 2021 revenues were 7.1% higher than in 2020 at constant exchange rates. The company said recovery in the base business and acquisitions was “more than offsetting expected declines in Covid-19 related sales,” while revenue at constant exchange rates was 17.1% higher than in 2019. Adjusted […]
Masonite Agrees to $100M Share Buyback
Tampa Bay-based Masonite International Corporation (NYSE: DOOR), a manufacturer and distributor of interior and exterior doors, announced it has entered into an accelerated share repurchase agreement with Morgan Stanley & Co. LLC. to repurchase an aggregate of $100 million of the company’s outstanding common shares. The agreement is part of Masonite’s existing share repurchase program, […]
Home Depot Adds 2 Board Members
The Home Depot Inc. (NYSE: HD), based in Atlanta, Georgia, announced the appointment of Paula Santilli, CEO of PepsiCo Latin America, and Caryn Seidman-Becker, chair and CEO of CLEAR, to its board of directors. The two new board members assumed their roles Tuesday. The board now has 14 members, The Home Depot said. Santilli has […]
Pool Corp. Declares Dividend
The board of directors for Pool Corp. (Nasdaq/GSM:POOL) declared a quarterly cash dividend of $0.80 per share. The dividend will be payable on March 24 to holders of record on March 10, the company said. Pool Corp. recently reported 2021 fourth-quarter sales of $1 billion, while year-end sales reached $5.3 billion. The post Pool Corp. […]
Owens & Minor Picks New Board Member
Richmond, Virginia-based global health care solutions company Owens & Minor (NYSE: OMI) announced that Kenny Gardner, chief people officer at DaVita, Inc., will join its board of directors March 1. Gardner has nearly 20 years of experience developing process innovation, transformation and talent strategies. He also prioritizes the people side of businesses and possesses a […]
February 2022 M&A Roundup: Sonepar-Nautic Deal Closes out Month
The sheer number of merger-and-acquisition announcements in the distribution industry dropped off slightly in February, but there were still more than a few deals that will likely have impacts across multiple sectors. Private equity firm Nautic Partners, LLC says it has reached a definitive agreement with the Sonepar Group to acquire Vallen Distribution, a company […]
Tompkins Solutions Names New CEO
Raleigh, North Carolina-based supply chain consulting and services firm Tompkins Solutions has named David Latona as its new president and CEO. Latona is expected to begin his new role Monday. He is succeeding Denny McKnight, who is retiring after more than 30 years with Tompkins, the company said. “Denny was the person who brought me […]
Sonepar to Sell Vallen to Nautic Partners
Private equity firm Nautic Partners, LLC has reached a deal with the Sonepar Group to acquire Vallen Distribution, a company that provides supply chain solutions and services. The acquisition is happening in partnership with Vallen management. Nautic said the sale is anticipated to close “as soon as possible,” following regulatory approval. Financial details were not […]
Lawson 4Q Sales Rise 4%
MRO distributor Lawson Products, Inc. (NASDAQ: LAWS) reported 2021 fourth-quarter net sales of $102.1 million, a 4% increase over the same period in 2020. Average daily net sales in 4Q improved 5.7% to $1.701 million, compared to $1.609 million in the prior year quarter on one less selling day. For the full year, ADS increased […]
Owens & Minor: Gains in 4Q, Annual Revenue
Richmond, Virginia-based global health care solutions company Owens & Minor (NYSE: OMI) reported 2021 fourth-quarter revenue of $2.46 billion and total year-end revenue of $9.78 billion, both increases over 2020. “I’m extremely proud of our strong finish to a record year and even more excited about our future. We delivered on our commitments to all […]
Lowe’s 4Q Sales Top $21B
Lowe’s Companies, Inc. (NYSE: LOW) of Mooresville, North Carolina, reported 2021 fourth-quarter total sales of $21.3 billion, roughly $1 billion more than 4Q of 2020. The company also reported 4Q net earnings of $1.2 billion and diluted earnings per share of $1.78 for the quarter ended January 28, 2022, compared to net earnings of $978 […]
Relevant to Acquire Rawson/ICD
Houston-based distributor Relevant Industrial, LLC says it has reached an agreement to acquire product-solutions company Rawson/ICD, Inc. Financial details were not disclosed. Relevant provides value-added distribution and service for instrumentation and automation, rotating equipment, valve, purification, and thermal equipment solutions. As part of the transaction, Rawson/ICD’s commercial building automation team will be acquired by Building […]
American Equipment Acquires Kistler Crane & Hoist
Salt Lake City-based American Equipment Holdings has acquired Kistler Crane & Hoist, a Midwest provider of overhead crane systems and MRO field services. The agreement is the sixth acquisition completed by American Equipment since partnering with Rotunda Capital Partners in May 2021. Financial details were not disclosed. The acquisition is expected to expand American Equipment’s […]
How Pricing and Inventory Are Shaping 2022
“Inventory, inventory, inventory.” When I asked epaCube Vice President John Gunderson in our latest podcast what he’s hearing on how 2022 is shaping up, he didn’t hesitate with that answer. “I think the inventory issues are going to straighten out a little bit this year,” he said. “A lot of our partners and clients were […]
Home Depot: 4Q Sales Up 10.7%
The Home Depot Inc. (NYSE: HD), based in Atlanta, Georgia, reported 2021 fourth-quarter sales of $35.7 billion, an increase of 10.7% over the same period in 2020. Net earnings for 4Q were $3.4 billion, or $3.21 per diluted share, compared with net earnings of $2.9 billion, or $2.65 per diluted share, in the same period […]
Builders FirstSource OKs $1B Stock Buyback Plan
The board of directors for Dallas-based building materials distributor Builders FirstSource, Inc. (NYSE: BLDR) has authorized the company to repurchase $1 billion of its common shares. The announcement follows the company’s completion of a $2 billion stock buyback program that started last year. Under the completed share repurchase programs authorized in August and November of […]
After 4Q Report, Pentair Announces Dividend
London-based Pentair plc (NYSE: PNR) announced it will pay a regular quarterly cash dividend of $0.21 per share on May 6 to shareholders of record at the close of business on April 22. This year will mark the 46th consecutive year Pentair has increased its dividend, the company said. Earlier this month, Pentair announced its […]
