January 21, 2020 - Modern Distribution Management

Day: January 21, 2020

Eaton Reaches $3.3B Deal to Sell Its Hydraulics Business

Power management company Eaton on January 21 announced it has entered into an agreement to sell its Hydraulics business to Danfoss A/S, a Danish industrial company, for $3.3 billion in cash — a 13.2 multiple of 2019 EBITDA. Eaton’s Hydraulics business accounted for 86% of Eaton’s Hydraulics segment revenue in 2019. The business had sales …

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Evergreen Marketing Group Outlines Succession Plan

Evergreen Marketing Group CEO Kevin Higginbotham has announced plans to retire in mid-2022. As a result of the announcement, the Evergreen Board of Directors has named a Succession Steering Committee to lead the transition. Higginbotham joined Evergreen in June 1995 as executive director and was named CEO in 2006. Keith Turtenwald, chairman of the Evergreen board of directors, said, …

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Optimas OE Solutions Names Three Executives to its Leadership Team

Optimas OE Solutions LLC, Glenview, Illinois, has named three industry executives to the company’s leadership team, including Marc Strandquist as president of the Americas, Mike Tuffy as president of International and Kate Daly as senior vice president of Global Human Resources. These industry veterans will focus on business growth and organizational strategy while strengthening operations and …

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Fastenal 2021 net sales 4Q

Fastenal Quarterly Report Reinforces How Customer Dynamics are Changing

Not long ago, the B2B distribution business presented a fairly simple equation: The more calls your skilled account managers could make on customers, the more those customers would buy. You built your sales process on this foundation of face-to-face interactions. You won by having the best team, with the right inventory in branches near the …

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EMUGE Appoints Kennametal Veteran as National Account Manager

Emuge Corp., West Boylston, Massachusetts, has named Scott Lowe as national accounts manager for the U.S. and Canada. In his new position, Lowe is responsible for developing and managing channel partner relations with key customers, distributors and integrated suppliers of Emuge products. “I am very pleased to welcome Scott to Emuge to further strengthen our sales organization …

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