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Flow Control Group serves more than 10,000 customers and 2,000 suppliers in North America for technical flow control and industrial automation products and related services.
MRO distributor names Bianca Martinez Rhodes as director, expanding the company’s board to eight members.
Genuine Parts Co., the parent of Motion, reported that the distributor’s 4Q sales of $1.4 billion were down 3.3% year-over-year and represented 34% of the company’s revenues in the period.
Blockbuster deal involves Rexnord performing a tax-free spin-off of PMC to its shareholders and then immediately combining it with Regal in a Reverse Morris Trust transaction.
Company will divest its majority interest stake in its High Pressure Solutions segment to the private equity firm American Industrial Partners for $300 million.
Tim Watson will continue to lead the company under the Watson Supply banner.
MRO distributor appoints seven to leadership roles in various divisions and regions around the country.
This latest transaction is part of WESCO’s commitment to divest its legacy Canadian Utility and Datacom businesses in connection with Canadian law.
In the fourth quarter, sales decreased 24.4% as the company also reported a loss of $11 million in the period.
For the fourth quarter, sales were up 7.7% from same period in 2019 as company posted profit growth for both the quarter and the full year.
