The 2020 Mid-Year Economic Update_long

Day: February 21, 2008

Pool Corp. Agrees to Buy National Pool Tile

Pool Corporation has agreed to acquire National Pool Tile Group, Inc. from Pentair Water Pool and Spa, Inc., a division of Pentair, Inc. National Pool Tile is a wholesale distributor of pool tile and composite pool finishes serving professional contractors in the swimming pool refurbish and construction markets through 15 distribution sales centers.

NPT has annual sales of more than $60 million, with the majority of their sales in the refurbish market.

The transaction is expected to close in March 2008.

Pool Corporation is a wholesale distributor of swimming pool and related backyard products. POOL operates 281 sales centers in North America and Europe, through which it distributes more than 100,000 national brand and private label products ...

Reliance Steel Sales Up 26% in 2007

Reliance Steel &Aluminum Co., Los Angeles, CA, reported profit in the year ended Dec. 31, 2007, was up 15% to $408 million. Sales were $7.26 billion, an increase of 26% compared with 2006.
 
The five acquisitions completed during 2007 contributed to the results: Encore Group Limited; Crest Steel Corporation; Industrial Metals and Surplus, Inc.; Clayton Metals, Inc. and Metalweb Limited. Full-year operating results from the 2006 acquisitions of Earle M. Jorgensen Company and Yarde Metals, Inc. further contributed to 2007.
 
For the fourth quarter, profit was $79.9 million, up 7%. Sales for the 2007 fourth quarter were $1.71 billion, an increase of 9%.
 
Reliance Steel &Aluminum is a metals service center in the U.S. Through a network of more than 185 ...

Builders FirstSource Sales Fall 29% in 2007

Builders FirstSource, Inc., Dallas, TX, supplier and manufacturer of structural and related building products for residential new construction, reported sales in 2007 were $1.59 billion, down 28.9%, due to a 24.6% sales volume decline and a 2.7 percent fall in commodity prices.

The company has decreased general and administrative expenses by 14.6%, and headcount by 36% since March 2006, when the housing correction began, according to Builders ...

Interline Brands Sales Up 16% in 2007

Interline Brands Inc., Jacksonville, FL, reported sales for 2007 were $1.24 billion, up 16%. The acquisition of AmSan added $131.6 million in sales. Average organic daily sales growth was 3.7% in 2007. Profit was $51 million.
 
Solid execution in our facilities maintenance markets, which now represent 67% of Interline's sales, offset weakness in our pro-contractor and specialty distributor markets which resulted from deteriorating conditions in the housing industry," said President and COO William Sanford.
 
Sales in the fourth quarter were $330.2 million. Average organic daily sales growth was 2.3%. Interline's facilities maintenance market grew 12% on an average daily sales basis. The pro-contractor market, representing 21% of sales, declined 12.5% in the quarter. ...