The 2020 Mid-Year Economic Update_long

Day: March 7, 2008

Rexel Succeeds in Offer for Hagemeyer

Rexel's offer for competitor Hagemeyer NV has gone through. Rexel had offered to pay nearly $4.7 billion (at current exchange rates) for the Dutch electrical distributor.
 
Jean-Charles Pauze, chairman of Rexel's management board, said: The success of our offer for Hagemeyer underscores the strategic merits of the transaction, which marks a step change in the distribution of electrical supplies worldwide and reinforces Rexel's leading market positions in Europe. We are greatly looking forward to moving on to the next stage, working with Hagemeyer's teams and building on a stronger platform to accelerate profitable growth."
 
Sonepar has agreed to buy some of Hagemeyer's assets from Rexel, including those in the U.S. Sonepar CEO Marie-Christine Coisne said the ...

H&E Equipment Sales Up in 2007

H&E Equipment Services, Inc., Baton Rouge, LA, reported sales in 2007 were $1 billion, up from $804.4 billion in 2006. Equipment rentals in 2007 were up 14% to $251.4 million. New equipment sales were up 47.2.
 
Fourth-quarter sales were up 34.4% to $289.7 million. Profit fell to $17.1 million, compared with $20.5 million a year ago.
 
Our fourth quarter results reflected solid year-over-year performance as we continued to experience strong new equipment sales due to the demand for cranes, resulting in a 68.3% increase. Rental revenues were also solid at an 18.5% increase, or a 13% increase excluding rental revenues from the Burress acquisition," said John Engquist, H&E Equipment Services'president and CEO.
 
H&E is a supplier of equipment for ...

Cardinal Health Agrees to Buy Enturia for $490M

Cardinal Health, Dublin, OH, has agreed to buy Enturia Inc. for $490 million. The cash transaction includes Enturia's line of infection prevention products sold under the ChloraPrep brand name and is expected to close within 60 days.
 
The acquisition will expand the company's Medical Products and Technologies segment.

Enturia (www.enturia.com) was founded as Medi-Flex Hospital Products in 1985. Over the past two years, the company's revenue has grown more than 70% to $140 million in 2007. The company has about 600 employees in Kansas, Texas and the United Kingdom.
 
Separately, Cardinal Health has decided to pursue the sale of several smaller, non-core offerings within its Medical Products and Technologies segment. Cardinal Health says it will ...