December 21, 2007 - Modern Distribution Management

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December 21, 2007

Titan Machinery Acquires Reiten & Young

Titan Machinery Inc., Fargo, ND, has acquired Reiten & Young International, Inc., a farm equipment dealership of CaseIH and New Holland brands.
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Reiten & Young International, Inc. operates one dealership in Grand Forks, ND, and had $10 million in revenue in fiscal year 2007 ending Oct. 31.
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With this acquisition, Titan Machinery will operate 36 full-service CaseIH and New Holland dealerships.
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Titan Machinery Inc. owns and operates a network of full-service agricultural and construction equipment stores in North ...

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Rexnord Acquires GA Industries for $76M

Zurn Industries, LLC, an affiliate of Rexnord LLC, Milwaukee, WI, has agreed to acquire GA Industries, Inc. for $76 million. The acquisition expands Rexnord's strategic water management platform, which was created with Rexnord's acquisition of Zurn in February 2007.

The acquisition further expands Zurn's presence in water and wastewater markets in municipal, hydropower, and industrial environments. GA Industries, Inc., which includes the Rodney Hunt Company, manufactures automatic control valves, check valves, gate valves, and other engineered flow control products.
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GAI is based in Cranberry, PA, and also has a facility in nearby Mars, PA. The Rodney Hunt Company is located in Orange, MA. GAI and Rodney Hunt employ nearly 300 employees with annual sales of ...

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Cooper Industries Makes Offer for MTL Instruments

Cooper Industries, Ltd., Houston, TX, announced that its subsidiary, Cooper Controls (UK) Ltd., made an offer for MTL Instruments Group plc, a publicly traded company based in the United Kingdom.
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MTL is a supplier of electronic instrumentation and protection equipment, the majority of which is used in hazardous environments such as the petrochemical, chemicals, and oil and gas production industries. In 2006, MTL had revenues of & pound; 85.3 million and net income of & pound; 5.5 million.
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The offer has been unanimously recommended by both the Cooper and MTL Board of Directors and is currently being reviewed by MTL's shareholders.
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Cooper Industries is a global manufacturer with 2006 revenues of $5.2 billion, 85% of which are from electrical ...

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Testimony Ends in Cerberus-United Rentals Trial

Testimony has ended in the case that will determine whether private equity firm Cerberus Capital Management LP must pay a $100 million break-up fee for pulling out of its acquisition of United Rentals.

It could also be compelled to complete the $4 billion deal, Reuters has reported.
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A Delaware court will hear the case that United Rentals, Greenwich, CT, initiated on Nov. 19, 2007, against Cerberus acquisition vehicles RAM Holdings Inc. and RAM Acquisition Corp.
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The lawsuit seeks to compel Cerberus to complete its purchase of United Rentals.
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United Rentals has said it has fulfilled its obligations under the merger agreement with Cerberus and stands ready to complete the merger transaction on the agreed-upon terms.
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ABC Supply Founder & CEO Dies After Fall

Ken Hendricks, founder, chairman and CEO of national building materials distributor ABC Supply, Beloit, WI, died early Friday morning, Dec. 21, after suffering a massive head injury after a fall at his home Thursday. He died in surgery.&nbsp ; &nbsp ;

About 10 minutes after returning home Thursday evening, Hendricks walked out of his house onto the floor of an addition to his home that was under construction to see how much work had been completed. He fell from the flooring deck.

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He was 66 years old.
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ABC Supply released a statement: This is an enormous tragedy and a great loss to the family, associates, and the community.&nbsp ; Right now, we are focused on working through the initial impact of this tragedy with primary ...

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Valley National Gases Agrees to Buy Portland Welding Supply

Valley National Gases, LLC, Washington, PA, has agreed to acquire Portland Welding Supply, an industrial gas and welding supply and tool distributor with annual sales in excess of $30 million, 11 operating locations, and 130 employees throughout Maine and New Hampshire.
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The acquisition expands Valley's presence in New England. It is the third purchase since CI Capital Partners (formerly known as Caxton-Iseman Capital) bought the company in February 2007.
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Valley National Gases is a packager and distributor of industrial, medical and specialty gases, welding equipment and supplies, propane and fire protection equipment. Valley National Gases operates 78 locations in sixteen states, with eight production and distribution centers in the eastern ...

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