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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 200,000-square-foot facility carries OmniCable’s full line of products, according to a company news release.
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.
Jim and Peter Fitzpatrick, who have owned the company for over 30 years, will retain material ownership stakes.
This vehicle will allow for Frontenac’s continued investment in MCE and is expected to fuel the company’s next phase of growth.
The company announced its 2Q earnings one day after saying it would be acquired by Clayton, Dubilier & Rice for $2.3B.
Almost 200 people from AD member and service provider companies across various industries and multiple countries gathered in St. Louis.
