The 2020 Mid-Year Economic Update_long

Day: July 23, 2007

Kendall Electric Buys Roden Electric

Kendall Electric has purchased Roden Electric, an electrical distributor in the South Central U.S. with more than $120 million in annual sales.

Kendall Electric has more than $400 million in annual sales. It serves the Industrial, OEM, and Construction markets.

Roden will continue under the Roden brand name.

Investment banking firm Vetus Partners advised on the ...

Myers Industries Approves Acquisition by Private Equity Firm

Shareholders of Myers Industries, Inc., Akron, OH, has approved the plan of merger, where Myers Holdings Corp., controlled by GS Capital Partners, would acquire the polymer product manufacturer and distributor of tools, equipment and supplies for $1.1 billion, including the assumption of debt.
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The company had sales of $780 million in 2006.
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GS Capital Partners is part of Goldman Sachs & Co.'s Principal Investment Area in the Merchant Banking ...

Womack Machine Supply Buys FPS Technologies

Womack Machine Supply Company has acquired Birmingham, AL-based FPS Technologies.

FPS distributes many of the same product lines as Womack (Bosch Rexroth, Haskel, Hydac, Hydraforce) and operates a hydraulic repair center near Birmingham . The industries they serve include Automotive, Steel, Wood Products, Material Handling and Marine.

The combination of both companies allows Womack Machine Supply to expand distribution and service of fluid power and automation products into Alabama, Mississippi, and the Florida panhandle.

Womack Machine Supply is an industrial distributor of hydraulic, ...

M& A at a Record High

Last week continued to be a blockbuster for M & A, with a strong showing by strategic players in the industrial and construction arenas: $400M Kendall Electric will buy $120M RodenLewis-Goetz has acquired Samson IndustrialSaint-Gobain will purchase Norandex.

A recent survey shows that a record $2.7 trillion was spent worldwide on mergers and acquisitions in the first half of 2007 (story). Total mergers in the first half are 67% ...