6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
Oakbrook, IL,, a manufacturer and distributor of protective equipment to the
general industrial, utility/high voltage and fire service markets, has signed a
definitive agreement to acquire all of the outstanding capital stock of
Fibre-Metal Products Company. Fibre-Metal, Concordville, PA,
established in 1905, is a privately held designer and manufacturer of premium
head protection equipment including protective caps, face shields and welding
helmets. The company has additional locations in Aston, PA and Mississauga,
Ontario. See article href="/pub/1_1/breaking-news/2825-1.html"
Investors, Boston, MA,
a private equity leveraged buyout group, has acquired a majority interest in
Providence, Rhode Island-based Avtek, Inc, a manufacturer and
distributor of industrial and commercial connectivity products and solutions.
The purchase was made in conjunction with members of Avtek's senior management
team who will remain with the company and continue to operate Avtek as an
independent business unit. See article href="/pub/1_1/breaking-news/2826-1.html"
OH, announced that it has acquired Porter Instrument Company, Inc., a global
manufacturer of analytical, industrial, medical and dental instrumentation.
Porter's annual revenue for the year ended 2004 was approximately $35 million.
Parker Hannifin also announced that it has acquired Sterling
Hydraulics for an undisclosed amount of cash from Sterling Industries,
Plc, a wholly owned subsidiary of Caledonia Investments Plc. Headquartered in
Crewkerne, England, Sterling is a manufacturer of products for mobile
applications. Sterling Hydraulics produced revenue of $42 million in its fiscal
year ended Mar. 31, 2005. See article href="/issues/35_19/news/2841-1.html"
For its fiscal 2006 first quarter,
ended September 30, Applied Industrial Technologies, Cleveland,
OH, reported net sales increased 7.3% to $443.2 million from $413.1 million in
the comparable period a year ago. Net income for the quarter increased 29.2% to
$16.9 million compared to $13.0 million last year. The company completed its
acquisition of Spencer Industries, with trailing 12-month sales of approximately
$49 million. AIT spent $15.7 million on acquisitions for the quarter, of which
the Spencer acquisition was the only one announced. See article href="/issues/35_19/news/2840-1.html"
Grainger, Chicago, IL,
reported sales of $1.4 billion, up 10 percent versus the prior year's third
quarter. Net earnings were up 30 percent to $88.1 million. Sales in the
branch-based distribution segment increased by 10 percent in the 2005 third
quarter versus the 2004 quarter. Strong growth in all customer sectors except
transportation contributed to a 9 percent increase in sales in the U.S. Improved
sales of seasonal products contributed approximately 1 percentage point to sales
growth. Overall, U.S. sales growth was reduced 2 percentage points as a result
of the wind-down of integrated supply and automotive-related contracts. See
Weakness in automotive sectors and
at a large customer caused Industrial Distribution Group to
revise its annual revenue growth rate to between 3.5% and 5.5% for 2005, as
compared to the prior annual growth rate estimate provided by the company of
6-8% for 2005. Industrial Distribution Group, Inc., Atlanta, GA, revised its
annual revenue growth rate to between 3.5% and 5.5% for 2005, as compared to the
prior annual growth rate estimate provided by the company of 6-8% for