Distributor News

MRO distributor Interline Brands, Inc., Jacksonville, FL, has agreed to be acquired by GS Capital Partners LP (a Goldman Sachs vehicle) and P2 Capital Partners LLC in a transaction valued at $1.1 billion, or $25.50 per share in cash. More

After the announcement, Interline came under investigation by shareholder litigation firm Ryan & Maniskas, LLP. The firm is investigating potential claims against the board of directors of Interline Brands Inc. concerning possible breaches of fiduciary duty and other violations of law. More

DGI Supply, a DoALL Company, Wheeling, IL, has agreed to acquire K & H Sales, Inc. in Northern California. The deal is expected to be finalized by July 1. More

European distributor Wolseley reported sales for the third quarter ended April 30, 2012, were £3.2 billion (US$5 billion), up 4.7 percent over the same period a year ago. Trading profit was £141 million (US$220.3 million). For the first nine months of the fiscal year, sales from ongoing operations were £9.4 billion (US$14.7 billion), up 6.3 percent. Trading profit was £451 million (US$704.8 million). More

Wolseley plc appointed Ole Mikael Jensen, the current managing director for Central Europe, as CEO for the Group’s Nordics and Central Europe regions. Jensen replaces Steen Weirsoe, who will retire Aug. 1, 2012. More

Houston, TX-based MRC Global Inc. has agreed to buy Chaparral Supply, a subsidiary of SandRidge Energy Inc. Chaparral Supply provides PVF products and oilfield supplies to its parent organization SandRidge. MRC plans to merge Chaparral with the company’s existing Alva, OK, service location. More

Mayer Electric Supply Company, Birmingham, AL, has acquired Mustang Electric Supply, Lewisville, TX. The acquisition is Mayer’s first in Texas. More

BDI (Bearing Distributors, Inc.), Cleveland, OH, has acquired Brown Bearing Co., Spokane, WA. The business is now known as Brown Bearing Co., a division of BDI. More

Praxair Canada Inc., the Canadian subsidiary of Danbury, CT-based Praxair, Inc., has acquired five Airgas branch locations in western Canada, including Calgary, Red Deer and Edmonton, Alberta, and Regina and Saskatoon, Saskatchewan. More

Marco Supply Company, Roanoke, VA, has acquired Superior Concrete Supply, Monroe, GA. More

Building Material Distributors, Galt, CA, a wholesale distributor of specialty building materials, acquired Master Fasteners International, Long Beach, CA, and Fastener Source. More

Toronto-based Russel Metals Inc. has agreed to acquire Alberta Industrial Metals Ltd., a metals distribution and processing service center located in Red Deer, Alberta. The purchase price is $30 million. More

Wesco Aircraft Holdings, Inc., Valencia, CA, has agreed to acquire Interfast Inc. for C$134 million (US$130.3 million) in cash. Interfast is a Toronto-based distributor of specialty fasteners. More

WESCO International Inc., Pittsburgh, PA, No. 2 on MDM’s list of top electrical distributors, has appointed Kenneth S. Parks vice president and CFO. More

American Tire Distributors, Inc., Charlotte, NC, executed a stock purchase agreement of Consolidated Tire & Oil, Inc., Saint Gabriel, LA. More

Turtle & Hughes, Inc., Linden, NJ, has acquired Mag-TrolLong Beach Inc., a wholesale distributor of electrical and automation equipment, supplies and renewal parts based in Long Beach, CA. More

Würth Adams opened a new branch and distribution center in Aurora, CO. The new facility improves Würth’s geographical reach and logistical capabilities throughout the region. More

Shale-Inland Holdings, Chicago, IL, has made four executive appointments. Darrell Jean has been named executive vice president, CFO; Navid Gardooni, chief information officer; Jody Pitts, vice president of marketing; and Rob Broyles, executive vice president, finance and corporate development. More

St. Louis, MO-based electrical distributor Graybar has made Kathleen M. Mazzarella the company’s 11th president and CEO. She succeeds Robert A. Reynolds, Jr., who will serve as Graybar’s executive chairman. More

IBC, Hartford, CT, has formed an alliance with IMARK Group, Inc., Bowie, MD, which will allow end-users access to a broader network of local and regional independent distributors. More

Performance Food Group Inc., Richmond, VA, has agreed to acquire Institution Food House Inc. from Alex Lee Inc. IFH is a $600 million distributor based in Hickory, NC, with an additional location in Florence, SC. More

Economic News

New orders for manufactured goods in April, down three of the past four months, decreased $2.9 billion or 0.6 percent to $466 billion, the U.S. Census Bureau reported. This followed a 2.1 percent March decrease. Excluding transportation, new orders decreased 1.1 percent. More

New orders for manufactured durable goods in April increased $0.3 billion or 0.2 percent to $215.5 billion. This increase, up two of the past three months, followed a 3.7 percent March decrease. More

The Chicago Fed National Activity Index rose to +0.11 in April from -0.44 in March. The index’s three-month moving average, CFNAI-MA3, ticked down to -0.06 in April from +0.02 in March, falling below zero for the first time since November 2011. More

Construction spending during April 2012 was estimated at a seasonally adjusted annual rate of $820.7 billion, 0.3 percent above March, according to the U.S. Census Bureau. The April figure is 6.8 percent above the April 2011 estimate of $768.2 billion.  During the first four months of this year, construction spending amounted to $238.5 billion, 7.3 percent above the $222.2 billion for the same period in 2011. More

The Purchasing Managers Index (PMI) registered 53.5 percent in May, 1.3 percentage points lower than April’s reading of 54.8 percent, according to the latest Manufacturing Institute for Supply Management Report on Business. This indicates ongoing expansion in the manufacturing sector, but at a slower pace than last month. More

Real gross domestic product increased at an annual rate of 1.9 percent in the first quarter of 2012 (from the fourth quarter to the first quarter), according to the Bureau of Economic Analysis. In the fourth quarter of 2011, real GDP increased 3 percent. More

Inflation-adjusted gross domestic product will expand by 2.2 percent in both 2012 and 2013, a solid increase from 1.7 percent growth in 2011, according to the latest Manufacturers Alliance for Productivity and Innovation (MAPI) Quarterly Economic Forecast. More

Aggregate GDP growth in non-U.S. industrialized countries, which include Canada, the Eurozone (plus Denmark, the United Kingdom and Sweden) and Japan, is expected to be no higher than 0.5 percent in any quarter through 2012, according to the Manufacturers Alliance for Productivity and Innovation (MAPI) Global Outlook – May 2012. In 2013, growth of 1 percent is anticipated in the first quarter, 1.5 percent in the second quarter, and 1.2 percent in the last two quarters. More

Gross domestic product in the Eurozone is expected to reach negative territory, -1.5 percent in 2012 and -0.4 percent in 2013, according to the Manufacturers Alliance for Productivity and Innovation (MAPI) European Industrial Outlook. GDP growth in Central Europe will avoid the recession, with a forecast for 1.7 percent growth in 2012 and 2.3 percent growth in 2013. More

Relative to March, the Canadian Industrial Product Price Index (IPPI) was unchanged in April, according to Statistics Canada. The Raw Materials Price Index (RMPI) fell 2 percent, largely because of mineral fuels. More

The Bearing Specialists Association Annual Distributor Survey revealed aggregate sales volume increased 14.7 percent in 2011 over 2010. In 2011, the aggregate number of employees increased 3.5 percent. In 2010, the number of employees rose 1.8 percent. More

April marked the second month in a row with a decrease in activity for members of the Industrial Supply Association, but activity remained in positive territory. The ISA Economic Indicators Report showed manufacturer activity in April at 58.92 percent compared to 61.82 percent the previous month and the distributor index at 57.8 percent compared to 62.6 percent in March. More

Heating, Airconditioning and Refrigeration Distributors International (HARDI) announced U.S. HVACR average distributor sales for April were up 8.3 percent. HARDI’s Monthly Targeted and Regional Economic News for Distribution Strategies (TRENDS) Report showed growth in six of seven U.S. regions, with three in double-digits. More

Manufacturer News

Stanley Black & Decker, New Britain, CT, has acquired Powers Fasteners, Brewster, NY. Powers will be marketed as a key brand under Stanley Black & Decker’s CDIY segment. More

Parker Hannifin Corp., Cleveland, OH,  announced that Bob Barker,  EVP, operating officer and group president of Aerospace, will retire after 39 years with the company. More

General Cable Corp., Highland Heights, KY, has agreed to acquire Alcan Cable, the wire and cable business of Rio Tinto plc. The purchase price is $185 million in cash. More

Eaton Corp., Cleveland, OH, has agreed to acquire electrical equipment supplier Cooper Industries plc, Dublin, Ireland. Total transaction equity value is approximately $11.8 billion. More

Thermadyne Holdings Corp., St. Louis, MO, changed its name to Victor Technologies Group, Inc. The name of its wholly-owned subsidiary Thermadyne Industries, Inc. will change to Victor Technologies International, Inc. More

RBC Bearings Inc., Oxford, CT, reported sales for the fourth quarter ended March 31, 2012, were $111.3 million, up 25.2 percent over the same period a year ago. Profit increased 56.6 percent to $15.5 million. For the full fiscal year, sales were $397.5 million, up 18.4 percent. Profit increased 43.3 percent to $50 million. More

Columbus McKinnon Corp., Amherst, NY, reported sales for its fiscal year ended March 31, 2012, were $591.9 million, up 13 percent from fiscal 2011. Profit was $27 million, compared to a year-ago loss of $36 million. For the fourth quarter, sales were $159.6 million, up 10.8 percent. Profit was $9 million, versus year-ago profit of $2.5 million. More

Protective Industrial Products, Inc., Albany, NY, has agreed to acquire Integrated Sourcing and Supply Innovators, LLC., Marion, OH. More