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The Pacific Northwest building material center says it has reached an agreement in principle to acquire five-store chain Orofino Builders Supply.
The combined value for January, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,784.8 billion.
The company says the deal — the sixth acquisition completed by American Equipment since May 2021 — will further its national growth strategy.
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The company reported $6.5 billion in sales for the quarter ending Jan. 31, as core strengths drove market share gains in supportive end markets.
The distributor says it entered an accelerated share repurchase agreement with Citibank N.A to repurchase $125 million of Beacon’s common stock.
The company recently elected David Meyer to its board of directors, a move that will take effect April 1.
Manufacturing technology orders for the month totaled $436.6 million, according to the latest U.S. Manufacturing Technology Orders Report.
MRO distributor Stellar Industrial Supply announced it has reached a deal to acquire industrial distribution firm Timesaver Industrial Inc.
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