To continue reading this article you must be a paid subscriber. Subscribe to MDM Already Subscribed? Click here to log-in | Forgot your password? The post Need Good Help! Talent Stress Emerges as Top 2022 Challenge for Distributors appeared first on Modern Distribution Management.
Category: Operations
Eaton Names New SVP
Power management company Eaton (NYSE: ETN), Dublin, Ireland, named Kurt McMaken its senior vice president of operations finance and finance transformation. McMaken is expected to lead the Global Operations and Transformation organization, which includes the company’s financial planning and analysis and operations finance teams and has responsibility for the development of finance technology enhancements. McMaken […]
Fluor Exec Named CII Vice Chair
Engineering and construction firm Fluor Corp. (NYSE: FLR) of Irving, Texas, says Tricia Thibodeaux — its executive director of global health, safety and environmental — has been named vice chair of the Construction Industry Institute for 2022. Thibodeaux has served on the board of advisors and as part of the organization’s executive committee. In 2019, […]
3M Invests $470M in Tenn. Plant
3M is investing approximately $470 million at its plant in Clinton, Tennessee, where the multinational company expects to add 600 new jobs by 2025. The company said the investment is intended to improve customer response time and increase sustainability. “The talented people in East Tennessee, the partnership from the state government, and the flexibility of […]
Ohio Transmission Corp. Rebrands
Ohio Transmission Corporation will now be known as OTC Industrial Technologies, the company announced as part of a rebranding initiative. The Columbus-based industrial distributor and service provider unveiled a new logo and announced the company would be focused into four segment groups: Pump Motor Technologies, Air Supply Group, Finishing, Dispensing & Filtration, and Industrial Product […]
Southwire Partners with Copper Mark
Carrollton, Georgia-based Southwire Company, LLC has partnered with the Copper Mark, a sustainability initiative and designation for businesses in the copper value chain. The Copper Mark is an assurance framework that “promotes the responsible production of copper,” Southwire said. The designation is intended to show the copper industry’s contribution to sustainable development and provides a […]
Sonepar Acquires Belgian Company
Belgium-based electrical distributor and Sonepar Group member Cebeo has acquired Electro Meers, a distributor of electro-technical material also based in Belgium. Financial terms were not announced. The deal is expected to take effect April 1. Electro Meers accounts for an annual turnover of approximately €5 million (USD $5.658 million). The four associates of Electro Meers […]
Fastenal Sales Rise 6.4% in 2021
Fastenal Co. (Nasdaq: FAST) of Winona, Minnesota, reported year-end 2021 sales of more than $6 billion, a 6.4% increase over 2020. The company also reported 2021 fourth-quarter net sales of more than $1.5 billion, 12.8% more than during the same period in 2020. Fastenal reported a yearly gross profit of $2.77 billion, with net earnings […]
Turtle & Hughes Promotes 2 Execs
Linden, New Jersey-based electrical distributor Turtle & Hughes has promoted two executives to lead its Los Angeles office. Aram Marandyan has been named vice president of sales, and Dan Pinshaw will succeed him as branch manager, the company said. The company said the two are being recognized for “advancing the company’s market presence as a […]
Proton.ai Closes $20M in Funding
Boston-based artificial-intelligence-powered growth platform Proton.ai has closed $20 million in Series A funding, led by Felicis Ventures. Proton said the funding will help it expand its AI-powered growth platform for distributors that compete in the “increasingly digital world with an AI-powered sales enablement solution created for the unique dynamics of B2B distributors.” “We are excited […]
Bluon Adds Financing for HVAC-R Tech
Irvine, California-based Bluon, Inc. — a company that offers tools, training and round-the-clock tech support to HVAC-R technicians — announced the closing of its Series B round with $27.6 million in equity financing. The financing round was led by Bluon’s existing primary capital partner, Ecosystem Integrity Fund, and included significant participation from MacKinnon, Bennett & […]
Rexel Appoints New Digital Officer
John Pehler was appointed Rexel USA’s new chief digital officer, the electrical distributor announced. Pehler will partner with the entire Rexel USA executive leadership team to “lead and further accelerate the digital strategy and transformation across the country,” the company said. “We are honored to welcome John to the Rexel family and are thrilled to […]
Graybar CFO to Retire
Graybar Senior Vice President and Chief Financial Officer Scott Clifford will retire in June after nearly three decades with the company. The St. Louis-based electrical, communications and data networking distributor said David Meyer has been appointed to SVP and CFO, effective April 1. Meyer was recently named vice president of North American subsidiaries following six […]
5 Ways Distributors Can Make Warehouse Jobs More Attractive
Employers created an average of 550,000 new jobs each month during 2021, and the unemployment rate is nudging closer to pre-pandemic levels. But ask any employer and they’ll tell you about the struggles of hiring workers right now. The U.S. Department of Labor’s Bureau of Labor Statistics reported 11 million job openings at the end […]
Stellar Industrial Supply Acquires JLM
MRO distributor Stellar Industrial Supply, Tacoma, Washington, has acquired JLM Industrial Supply, a Sparks, Nevada-based industrial distribution and integrated supply firm. Financial terms of the deal were not disclosed. Stellar says the acquisition will help it secure an immediate and strong market presence in the northern Nevada region. The acquisition is scheduled to close March […]
Wynnchurch Sells Controlling Interest in Rosboro
Rosemont, Illinois-based middle-market private equity firm Wynnchurch Capital has sold its majority interest in Rosboro Holdings, Inc. to One Equity Partners but will continue to own a “significant” minority stake in the company, Wynnchurch announced. Rosboro is a Springfield, Oregon-based manufacturer of engineered wood products, including stock and custom glued laminated timber and lumber used […]
BlackHawk Industrial Acquires Pinnacle
Tulsa, Oklahoma-based BlackHawk Industrial — a distributor of metalworking, industrial, MRO and packaging supplies — acquired Pinnacle Tool & Supply, a value-added distributor in the cutting tool and abrasive space from Toledo, Ohio. Financial details were not disclosed. BlackHawk said the acquisition significantly increases its operational footprint in the Ohio region and enhances the company’s […]
NEFCO Finalizes Russell Supply Acquisition
Hartford, Connecticut-based construction supply company NEFCO completed its acquisition of Russell Supply, a contractor supply company that serves Vermont, New York, and New Hampshire. Financial terms of the deal were not disclosed. The deal is expected to further expand NEFCO’s New England presence and provide local supply capabilities for current and future Vermont customers, NEFCO […]
PTDA Adds 2 New Members
The Power Transmission Distributors Association says two new companies have joined as members. British Columbia-based industrial chain and manufacturing-solution company Connexus joined mayr — a provider of torque limiters, shaft couplings and safety brakes — as the newest PTDA members. Connexus company brands include Viking Chains Inc. and I’Anco Products. “We look forward to expanding […]
Hillman to Open Another Georgia Facility
The Hillman Companies, Inc. broke ground in Shannon, Georgia, on a new distribution center for its Protective Solutions division, which comprises its “flagship brands” such as Firm Grip and AWP, the company said. About 200 employees, including 50 new hires, are expected to work at the 450,000-square-foot facility. The new distribution center will be completed […]
