The change is part of Allied's strategy to 'transform from a products-based business in motion control to a solutions-oriented company.'
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As a result of the consolidation, about 500 Republic Steel employees will be furloughed indefinitely.
The company says the acquisition expands its beverage packaging capabilities and strengthens its position in North America.
The distributor also announced a new leader for its Industrial Parts and Engineered Repair Services segments.
Net sales for the quarter were down 3% from 2022, while net income attributable to Masonite dropped 18%.
The new headquarters offers a wellness center, kitchen, coffee and luncheon area, and a game room — complete with a golf simulator.
The company reported that fiscal 4Q net sales were $1.2 Billion, up 9.1% YoY and up 8.6% on an organic basis.
AFC Industries has burst onto MDM's Top Industrial Distributors scene after several years of frequent acquisitions. We chat with CEO Kevin Godin about how the company has successfully managed all of its recent growth.
Fastenal has invested more than $300,000 in equipment and infrastructure to bale and consolidate used PE film for recycling by Trex.
The acquisition increases Relevant Industrial's workforce to more than 450 employees at 37 strategic locations.
Sales during the quarter were $428.0 million, a healthy increase over the $367.8 million reported during 2Q 2023.
The new branch features a 10,000-square-foot warehouse, a 5,000-square-foot counter area and a large demo room.
The new location will stock drywall, acoustical ceilings, fiberglass insulation, residential and commercial spray foam.
Net sales in 2Q 2023 decreased 3.6% to $380.0 million, compared to $394.1 million in the prior-year quarter.
The company announced its 2Q earnings one day after saying it would be acquired by Clayton, Dubilier & Rice for $2.3B.
The year-over-year growth was down from the 19% reported during the company's 2023 first quarter.
Dakota Fluid Power will increase Singer Industrial’s North America footprint to approximately 85+ locations with over 1,200 employees.
The company said that Aerospace/Defense sales were up 21.2%, while Industrial sales were up 4.7%.
Despite strong numbers from the company's Patient Direct segment, overall sales increased just 2.5%.
The company reported its July sales figures, which showed net and daily sales were up 3.7% compared with the same period in 2022.
