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With the deal, the food service and JanSan distributor’s annual revenues are now expected to exceed $1 billion.
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But nonresidential construction spending fell 0.7%, according to an Associated Builders and Contractors data analysis.
SBP Holdings completed the sale of Bishop Lifting Products, a group of value-added distributors of lifting products and specialty rental equipment.
Heating, Air-conditioning & Refrigeration Distributors International says average annual sales growth for the 12 months ending in December is 23.6%.
The home improvement retailer says Edward "Ted" Decker has been named CEO and president, effective March 1.
The distributor of heating, ventilation, air conditioning and refrigeration products announced earlier this month it had closed the purchase.
The company reported 2021 fourth-quarter net sales increased 15.3% over the same period in 2020.
The worldwide construction equipment manufacturer also reported 2021 fourth-quarter sales were up 23% over the same period a year prior.