But industrial distributor also sees headcount continue to decline and the number of “selling personnel” is down nearly 10% compared to the same time last year.
Veritiv, whose six-month sales dipped 20.6% year-over-year, saw its “ongoing efficiency programs and the temporary actions … to mitigate the impact of COVID-19 led to improved margins,” says CEO.
Motion Industries, a subsidiary of Genuine Parts Co., announced Monday it has acquired Canada-based TRC Hydraulics and California-based F&L Industrial Solutions.
The Power Transmission Distributors Association on July 30 announced the association for the industrial power transmission/motion control distribution channel has welcomed six new member companies.
Though not where it should be in a typical July, distribution M&A activity reached double-digit transactions for a second straight month. Our M&A Roundup recaps deals from LINC Systems, Core & Main, SRS Distribution and more.
The severity of the coronavirus crisis has exceeded that of the Great Recession more than 10 years ago, and while distributors haven’t been spared the impact of COVID-19, the industry is faring better than most.