The news has mostly been good since our last update on the reports affecting wholesale distribution, manufacturing and the overall economy, but as coronavirus cases rise, so do fears of a so-called “COVID-19 cliff.”
Eric Smith
Senior Editor Eric Smith is an award-winning business journalist whose coverage focus includes economic news and insights, industry trends, M&A, and analysis of small businesses and public companies across the wholesale distribution marketplace. Reach him at eric@mdm.com or 720-207-0335.
Posts By Eric Smith
Gallagher, who has been with Avnet for 37 years, had been serving as interim CEO since August
Latest Chicago Fed National Activity Index (CFNAI) shows that three of four broad categories of indicators used to construct the index made positive contributions in October, and three of the four categories increased from September.
Industrial distributor appoints Mark Pickett to newly created role for “leading and driving a consistent brand experience for customers across all of MSC’s platforms and channels.”
PE-backed PPE manufacturer Protective Industrial Products Inc. has bought Primax Manufacturing & Trading Inc., a maker of safety gloves and other protective clothing.
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Nov. 9 to Nov. 13 indicated an 2.2% decrease — but will more lockdowns further drag revenues in the coming weeks?
Building materials distributor Beacon Roofing Supply also reported that fourth-quarter revenue of $2 billion marked a 0.6% decline from the same period in 2019.
Joe Camara, who has been with the company since 2007, will manage the building materials distributor’s newest location.
Housing starts also up compared to year-ago period and the previous month, according to the latest residential construction report from the U.S. Census Bureau.
Latest report shows U.S. cutting tool consumption up 14.7% from previous month of August, while year-to-date total is down 23.1% from same period of 2019.
Lowe’s also posts a profit of $692 million as the company continues to ride the wave of home improvement growth amid the COVID-19 pandemic.
The seasonally adjusted Fastener Distributor Index (FDI) for October was 56.5, up from 49.2 in August.
The U.S. Census Bureau reported that the combined value of distributive trade sales and manufacturers’ shipments and inventories for September was up 0.8% from the same month last year.
According to the Industrial Production and Capacity Utilization Report, manufacturing output increased 1% during the month; industrial production was still 5.6% below its pre-pandemic February level.
Plumbing and HVAC distribution giant Ferguson adds Old Dominion Supply Inc. and Atlantic Construction Fabrics Inc. to its portfolio.
The 11,000-square-foot location for Heritage Landscape brand HLS Outdoor will be led by Jamie Greenstreet, a nine-plus year industry veteran with experience serving in various operational roles.
The recent flurry of high-profile, high-dollar M&A deals involving building material distributors like HD Supply, US LBM and Foundation Building Supply has sparked plenty of shakeup but also shined a light on this sector.
Distributor of specialty building materials trades hands and will now serve as Clearlake Capital Group's latest platform for organic growth and add-on acquisitions in this sector.
Bearings manufacturer SKF announces that Alrik Danielson is leaving the company after nearly five years at the helm.
American Securities LLC is the latest private equity firm to snap up one of the country’s top building materials distributors.
