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Brady Corporation, Milwaukee, WI, has signed a definitive agreement to acquire EMED Co., Inc., Buffalo, NY, from Summit Partners in a cash transaction for $190 million. EMED is a direct marketer and manufacturer of identification products, including traffic and parking signs, warehouse and shipping signage, first aid and protective wear, security and emergency preparedness products, and other custom signage and safety solutions. EMED had 2003 sales of $55 million. Brady's fiscal 2003 sales were approximately $555 million.
Cooper Industries, Ltd., Houston, TX, has acquired RSA Lighting, Chatsworth, CA, a privately held manufacturer of specification and commercial grade lighting fixtures. RSA's product line includes architectural ceiling- mounted downlighting for recessed applications, particularly applicable for boutique retail and high-end residential uses. RSA will become part of the Cooper Lighting division of Cooper Industries.
W.W. Grainger, Inc., Chicago, IL, is restructuring to drive its growth plans in national and international markets. The move was announced with the resignation of president and COO Wesley M. Clark. Grainger's goal: Realign its operations by units to better focus on sales and service goals. The largest unit represents all of Grainger's businesses operating under the Grainger brand in the U.S., including the 400 branches and nine distribution centers in its domestic supply chain network and Grainger's outsourcing business. Marketing EVP Jim Ryan gets promoted to president of this unit. More...
MSC Industrial Direct Co., Inc., Melville, NY, reported net sales for the second quarter of fiscal 2004 ended Feb. 28 increased 10.0% to $230.5 million, compared to net sales of $209.6 million in the second quarter of fiscal 2003. In the first quarter of fiscal 2004, the company reported a net sales growth rate of 5.7% over the same period in fiscal 2003. Net income for the fiscal 2004 second quarter was $18.5 million, 45.4% higher than fiscal 2003's second quarter net income of $12.8 million. For the first half of fiscal 2004, the company's net sales rose 7.8% to $453.3 million, compared to net sales of $420.3 million a year ago. Net income in the fiscal 2004 six-month period was $35.0 million, compared to $25.2 million in the year ago period, an increase of 37.8%.More...
Strategic Distribution, Inc., Bensalem, PA, reported revenues for the fourth quarter of 2003 were $26.4 million, compared to revenues of $40.9 million reported for the fourth quarter of 2002. The $14.5 million decrease in revenues was primarily attributable to the termination of the El Paso Corporation (EPC) integrated supply agreement in July 2003. The EPC termination accounted for $8.0 million of the decrease. The company reported no EPC revenues in the fourth quarter of 2003. Additional decreases in revenues were attributable to the termination of other integrated