This adds to the $75 million Timken committed in late 2020 to strengthen both its wind and solar capabilities.
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The distribution center was relocated from Rialto, California, to the Kansas City area to reach customers faster, the company said.
The fasteners distributor marks AFC's fifth acquisition of 2023 and 10th since the company was privately acquired in April 2021.
With traditional (gen-one) distributors threatened by new competitors with radically different financial and go-to-market models, Mike Marks advises on how distributors can build a next-gen distributor.
Despite a sales decline in 1Q, Regal Rexnord CEO Louis Pinkham has high hopes for the manufacturer following its acquisition of Altra Industrial Motion.
The acquisition is FleetPride's first since the distributor appointed Kevin Weadick, formerly of Zoro, as its president.
Vanguard is Pye-Barker's third acquisition of 2023 after the safety products distributor made 23 bolt-ons in 2022.
While down somewhat from its 4Q22 figures, Wesco posted more double-digit sales growth in 1Q despite harsh market headwinds.
Among the new locations are three in Texas, two in Tennessee, one in Puerto Rico and several across the Midwest.
The decline in sales was primarily driven by a weak housing market that has plagued the building materials and construction industries for the past year.
The acquisition is expected to close in 2023's third quarter.
Norcan is a distributor of fluid power and pneumatic products with eight locations across western Canada.
Southern Janitor will be the first Florida location for BradyIFS.
Home Lumber is GMS's fourth acquisition of 2023.
The industrial distributor's fiscal 3Q sales grew 5% year-over-year.
MiddleGround Capital's strategic acquisition of Advantage Metal Products supports another of MiddleGround's recent acquisitions, Megatech.
The Institute for Supply Management’s monthly Purchasing Managers Index (PMI) remained in contraction territory for a sixth straight month in April.
AD members saw their sales increase 6% year-over-year in 2023's first quarter.
Honeywell has acquired Des Moines, Iowa-based Compressor Controls Corporation from Indicor.
Customers experiencing price increase fatigue are looking for ways to reduce operational costs. James Dorn shares thoughts on how distributors can manage their manufacturer suppliers more strategically.
