The MRO products distributor's project will create at least 250 full-time jobs by the facility's sixth year of operation.
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MRO distributor HD Supply has closed its first acquisition since being re-acquired by Home Depot in late 2020.
Excluding Global's $69 million acquisition of Indoff that closed in May, 2Q sales were down 5.2% year-over-year.
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.
K-C Professional posted second-quarter sales of $887 million, an 11% increase year-over-year and 13% organic sales growth.
Operating margin improved year-over-year across all three key business units, while the pace of organic sales declined.
The industrial parts distributor's profit margin grew 190 bps year-over-year despite sales growth that was less than half that of 1Q.
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Also known as AZ Partsmaster, the company reportedly had 2022 sales of approximately $155 million.
Total year-over-year sales growth of 5.9% was a sharp slowdown compared to 1Q, as daily sales slowed in each month during the quarter.
MRO and metalworking supplies distributor MSC Industrial Supply reported double-digit sales growth for the fifth consecutive quarter.
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It was the distributor's weakest daily sales growth month since June 2021.
After a strong fiscal 2022, DXP is off to a fast start in 2023.
Joe Limbaugh has been with Motion for nearly 40 years while James Howe recently celebrated 30 years with the MRO parts distributor.
Through the deal, Stellar gains a new regional distribution hub in Salt Lake City.
The company's year-over-year daily sales growth accelerated after several months of decline, powered by sales to manufacturing customers.
The industrial distributor's fiscal 3Q sales grew 5% year-over-year.
