The company again benefited from its $4.5 billion acquisition of Anixter International Inc. in 2020, with revenue spiking 120.2%.
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.
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NOW Inc. also narrowed its loss in the period, signaling a rebound for the industrial distributor, which had been hit especially hard by the pandemic.
Global Industrial Co. reported profit grew 37.9% to $21.1 million as the company another strong period.
Building materials distributor BlueLinx Holdings also reported a profit of $113.5 million for the quarter.
The company in May announced it was selling the division to CentroMotion for $375 million.
With this latest addition, the distributor of electronic test, measurement, and production supplies will expand to the UK.
The building materials distributor has added a trio of businesses, expanding its footprint in Georgia and Virginia.
The building and construction vertical saw a handful of deals announced last month, including three acquisitions from US LBM Holdings.
Previously announced, Cardinal Health is unloading the business for $1 billion.
Maximus Solutions is a Montreal, Quebec-based provider of digital controls and Industrial Internet of Things (IIoT) production management systems for the agritech market.
Construction spending for the last month of the second quarter was also up 0.1% from the previous month of May.
For the first six months, the company’s gas and services segment — its largest, by far — grew 8% to US$12.3 billion.
For the first six months, Weyerhaeuser reported sales of $5.7 billion, up 68.2% over the same period a year ago.
Industrial distributor’s sales for the first six months increased 7.8% from the same period of 2020.
The pipes, valves and fittings distributor saw sales improve and significantly narrowed its loss in the period.
Building materials distributor will open a location in Beltsville, Maryland, its eighth in the DC/Baltimore area.
Net product sales for Amazon totaled $58 billion in the quarter, up 15.4% from the year-ago period.
For the first six months of 2021, sales at the Chicago-based MRO distributor Lawson Products improved 28.8%.
The deal will expand the services and product offerings for Fischer Process Industries, an Ohio-based pumps, valves, and process equipment distributor.
Crane’s process flow technologies segment sales increased 29.8% to $310.7 million in the quarter.
