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Ferguson, Newport News, VA, has purchased Endries International, Inc. and Endries Incorporated, Brillion, WI, in a pair of stock transactions completed Sept. 30, 2005. Endries is an ISO-certified, international provider of vendor managed inventory (VMI) and MRO services for original equipment manufacturers with industrial fasteners representing the bulk of their volume. Endries has annual sales of approximately $150 million and employs 500 associates. See article here.
Parker Hannifin, Cleveland, OH, plans to acquire Kenmore International, a manufacturer and distributor of components for global refrigeration and air conditioning markets, from Lai Berg Holding, AS of Norway. Kenmore produced sales of $110 million in 2004. Kenmore operates facilities in Turkey, China, India, the United Kingdom and the U.S. employing more than 1,000 people in the design, manufacture and sale of system protectors and related components. Additional capabilities in condenser and evaporator design will help extend Parker's current product range.
S.L. Fusco, Inc., Rancho Dominguez, CA, has combined their Mexican operation with Argo Del Valle, a 3M industrial distributor established in 1989. The new venture is called ARGO/FUSCO. The merger will bring together products, services, technical expertise and a complete integrated supply management program which addresses all aspects of full tool crib management services including software, bar-coding and vending machines supporting California, Arizona and now Mexico's manufacturing base.
Wolseley plc, the world's largest specialist trade distributor of plumbing and heating products to professional contractors and a supplier of building materials, has acquired Encon, a distributor of insulation products in the UK, for a price of roughly U.S. $253 million. Encon is the second largest insulation distributor in the UK with around an 11 per cent market share. Also in October, Ferguson acquired Camellia Valley Supply, a waterworks wholesaler based in Sacramento, CA, from Pacific Coast Supply, LLC. The acquisition of CVS strengthens Ferguson's waterworks position in Northern California, adding three new locations and expanding its customer base. CVS has annual sales of $33.8 million.
MSC Industrial Direct Co., Inc., Melville, NY, reported net sales for the fiscal 2005 full-year period ended Aug. 27, 2005 were $1.1 billion, a 15.1% increase over net sales of $955.3 million in fiscal 2004. Net income in fiscal 2005 rose 38.3% to $112.3 million, from $81.2 million in fiscal 2004. See article here.
WESCO International, Inc., Pittsburgh, PA, a provider of MRO products, construction materials, electrical equipment and components, and advanced integrated supply procurement outsourcing services, announced net sales for the third quarter 2005 grew to $1,131 million, an increase of 16% over the $975 million recorded in 2004. Organic growth was 14.8% with acquisition sales accounting for the remainder. See article here.
DXP Enterprises, Inc., Houston, TX, working through two hurricanes in its region, announced a 43% increase in net income to $1.1 million for the third quarter ending Sept. 30, 2005, compared to net income of $743,000 for the third quarter of 2004. Sales increased 1.2% to $43.4 million from $42.9 million for the third quarter of 2004. Gross profit increased 15.2% from the third quarter of 2004. Year-to-date earnings as of Sept. 30 increased 59% to $3.4 million, compared to $2.1 million for the first nine months of 2004. Sales increased 6.3% to $130.6 million from $122.8 million for the first nine months of 2004. Gross profit for the first nine months of 2005 increased 17.1% compared to the same period in 2004.