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The middle-market private equity firm reached a deal to acquire supply chain solutions company Vallen Distribution from the Sonepar Group.
The MRO distributor says net sales increased to $102.1 million compared to $98.1 million for the fourth quarter of 2020.
Real gross domestic product increased at an annual rate of 7% in the fourth quarter of 2021, according to the ‘second’ BEA estimate.
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The company reported 2021 fourth-quarter revenue of nearly $2.5 billion and total-year revenue of more than $9.7 billion.
The company also reported 2021 fourth-quarter net earnings of $1.2 billion and diluted earnings per share of $1.78.
With the acquisition, Relevant Industrial, LLC will have more than 400 employees at 35 locations throughout the U.S.
American Equipment Holdings says the deal, its sixth acquisition since May 2021, will further its national growth strategy.
The world's largest home improvement retailer also reported 2021 year-end sales of more than $151 billion, a 14.4% increase.
The building materials distributor says its board of directors has authorized the company to repurchase $1 billion of its common shares.
