July 2022 M&A Roundup: Momentum Carries into Year’s Second Half
Following a period that reenergized the pace of M&A activity, deals involving packaging companies and international entities kept a brisk pace.
July 2022
Grainger Raises Outlook Again After 2Q Sales Jump 20%
Sales outpaced that of 1Q at the industrial distribution giant, despite slowing throughout the quarter.
Amazon 2Q Sales Rise 7% to $121B
The online retail giant, which doesn’t break out Amazon Business sales in quarterly earnings reports, said overall net loss was $2 billion in 2Q.
Pentair Completes $1.6B Ice Maker Acquisition
The London-based water treatment and sustainability provider finalized a deal to acquire Manitowoc Ice from Welbilt, Inc.
Southwire Opens New Office Following Acquisition
The opening comes as Southwire expands its business following the acquisition of Topaz Lighting Corp. in December 2021.
US LBM Names New Supply Chain SVP
Steve Short will lead US LBM’s building materials sourcing and procurement strategy and supply chain operations, the company said.
Earnings Roundup: Fortive, International Paper, Rockwell, Timken, TriMas
In the latest earnings reporting period for publicly-traded companies, these distributors and manufacturers reported strong sales figures.
Stanley B&D Plans to Shed 30% of Plants in Cost Savings, Reports 2Q Results
It's part of the toolmaker's plan to save $1.5 billion in three-year cost savings while shifting resources and reprioritizing investments.
Envoy Solutions Acquires Sunbelt Packaging
The acquisition will allow Envoy Solutions to continue to grow in the Southeast U.S. region, the company said.
Winsupply to Start Delivering Products by Drone
The company plans to make its first-ever drone delivery on Aug. 9, on a three-mile flight from one facility to another.
2Q M&A Report: Robust Activity Despite Signs of Pending Slowdown
Following a relatively slow 1Q, distribution M&A increased in the April-June period, ending 2Q with one of the biggest months in deal volume over the past two years.
Survey: Are Distributors Adjusting Inventory Amid Economic Uncertainty?
Ahead of a potential economic slowdown, we asked distributors whether they plan on adjusting inventory for the second half of 2022 and into 2023.
OTC Opens New DIRECTAIR Location
The company says the facility, located in Cincinnati, Ohio, will increase the company’s capacity by about 200%.
Census Bureau: International Trade Down in June
The U.S. Census Bureau announced data for international trade, wholesale inventories and retail inventories advance for June 2022.
With KDG Boost, Motion 2Q Sales Jump 34.5%
For the second quarter of 2022, Genuine Parts Company reported record sales of $5.6 billion, a 17% increase over the same period a year ago.
The Evolving Role of Associations and Buying Groups
MDM's Mike Hockett and NetSuite's Ranga Bodla discuss why distributor associations and buying groups are more important than ever and a new program aimed to provide them with additional resources.
Milton Industries Acquires Casey Tools
Milton’s sixth acquisition in the past 30 months is a designer and manufacturer of the LTI Tools brand, according to the announcement.
WernerCo. Announces Leadership Changes
The manufacturer/distributor says Don Freeman and Kevin Blossom have been promoted to president positions.
Rivet|MRO Appoints Project Manager
Jon Bridge will join Rivet|MRO from Crescent Electric Supply, where he served as the 3M strategic accounts specialist.
Watsco 2Q Sales Top $2B
Watsco reported a profit margin of 27.9% from their sales of $2.13 billion compared to last year’s $1.85 billion.
