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It could take until the end of 2023 to complete, after which 3M will retain a 19.9% stake.
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Matt Murray joins as senior business unit manager for industrial distribution and Mike Smith joins as senior business unit manager for fleet.
For the first time since summer 2020, both single-family starts and permits fell below a 1 million annual pace, NAHB says.
Travis Hendren will be responsible for all field operations supporting the company’s distribution yards, GMS Inc. said.
The transaction was initially announced on Dec. 8, 2021, and Security generated approximately $1.6 billion in revenue that year.
The manufacturer reported second-quarter 2022 sales of $1.136 billion, an increase of $55.2 million over the same period last year.
The industrial technology manufacturing company financed the transaction through a combination of available cash and debt.
OTC Industrial Technologies has partnered with Quincy Compressors, a manufacturer of reciprocating and rotary screw air compressors.
The Louisiana company reported ‘record’ second-quarter sales for 2022, up 15% from last year to $2.1 billion.
