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The metalworking and MRO supplies distributor is suddenly on an acquisition streak.
Sandvik's recently-added GWS Tool Group has acquired Balax, Inc. as an addition to the conglomerate's Walter division.
The company said it has accepted the resignation of current Chief Financial Officer Kenneth Krause, effective Aug. 26.
SBP had acquired two distributors since selling off Bishop Lifting Products early this year.
As evidenced by the latest round of quarterly earnings reports, some industrial distributors and manufacturers still see year-to-year growth.
France-based electrial supplies giant Rexel said 2022 first-half U.S. performance was sustained by growth in all three of its end markets, especially in industrial.
It's the third acquisition for Winsupply announced this year, and comes alongside news that it will start drone deliveries on Aug. 9.
Core organic sales comprised half of the distributors' 24% sales growth year-over-year.
Downward pressure on nonresidential spending is likely to only intensify, and the situation looks even worse when adjusting for inflation.
Heating, Air-conditioning & Refrigeration Distributors International released its monthly TRENDS report reflecting the month of June.
