Standex said it expects the acquisition to be accretive to its earnings and to achieve a double-digit return on invested capital.
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The company's 2023 second quarter included one new acquisition and the naming of a new Chief Strategy Officer.
Millennium Manufacturing will help Bracalente bolster its specialized CNC milling, turning and multi-spindle manufacturing capabilities.
That geographic segment includes gases and welding products distributor Airgas, which was No. 5 on MDM’s Top Industrial Distributors List.
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Year-over-year sales growth slowed to 2% in the second quarter, but operating margin increased to 20.6%, according to an earnings report.
Romac Industries' President said the expansion aligns with the company's commitment to domestic manufacturing.
The industrial distribution giant's results seemed to outperform the rest of the sector, with a sequential revenue growth slowdown more subdued than what others have reported in this earnings cycle.
PDF joins Evantic's existing portfolio of innovative providers of high-performance engineered solutions
Southwire's future Texas facility will help streamline the company's product offering to the Southwest and Midwest U.S.
The company also has named Bill Withers as Business Development Manager of its Northeast Region.
Sales within the company's Performance Coatings Group increased 0.3% during the quarter.
Structural connector and building solution manufacturer Simpson recorded consolidated net sales of $597.6 million, an increase of 0.7% YoY.
K-C Professional posted second-quarter sales of $887 million, an 11% increase year-over-year and 13% organic sales growth.
The company reduced its total global workforce by 10% this year as 'demand for consumer electronics waned,' Reuters reported.
A tentative 5-year deal has been reached with UPS's 340,000-member union, likely averting a nationwide strike. See our full recap of the deal and the contingency plans several distributors had prepared.
Missed MDM's free Virtual Profitability Summit? It's now available on-demand. Here, find a quick recap of some final thoughts from the event.
An expected slowdown in deals did set in during the quarter’s final month, but June was still busy by recent historical standards.
Midwest electrical, plumbing and HVAC distributor Dakota Supply Group celebrated the grand opening of a new location in Mankato, Minnesota.
Amazon plans to move some corporate employees working remotely or in smaller offices to the eCommerce giant’s hub locations in major cities.Â
