Mechanical insulation distributor Distribution International, Inc., a portfolio company of private equity firm Advent International, on June 11 announced its acquisition of Silvercote, LLC, Greenville, South Carolina,and the assets of Silvercote’s Canadian operations from Knauf Insulation, Inc., and Knauf Insulation Ltd., respectively. More.
Motor City Industrial, Hazel Park, Michigan, acquired Quality Fastener and Supply Co., Oxford, Michigan, a distributor of industrial consumables and ancillary products. Motor City Industrial is backed by Kian Capital Partners and Oakland Standard Co. This is the third acquisition by Motor City Industrial and further expands product and service offerings available to customers from diversified sectors and geographies. More.
Janitorial supply distributor Nichols, Muskegon, Michigan, acquired DawnChem, Cleveland. DawnChem has been in business since 1977 as a family owned and operated cleaning supplies and equipment company. The acquisition significantly expands Nichols’s presence in the Northeast Ohio area. More.
Valin Corporation, a technical solutions provider located in San Jose, California, acquired Pacific Technical Products, Valencia, California. The acquisition strengthens Valin Corporation’s automation product portfolio. More.
Ohio Transmission Corporation, an industrial equipment service provider and distributor headquartered in Columbus, Ohio, has acquired Furey Filter & Pump, Milwaukee, and its subsidiary, PSI Engineering, Minneapolis. More.
HD Supply Holdings Inc., Atlanta, reported sales of $1.5 billion for the first quarter of fiscal 2019 ended May 5, a 7.5% increase compared to the first quarter of fiscal 2018. Net income increased 20.2% to $107 million for the first quarter, compared the year-ago period. Construction and industrial sales increased 8.3% to $55 million during the quarter. Organic sales for the unit grew 4.7%. Sales in the facilities maintenance unit increased 6.8% to $772 million. More.
Fastenal Co., Winona, Minnesota, reported May sales of $472.4 million, up 9.5% over the year-ago period. The company reported daily sales of $21.5 million, up 9.5% versus a year ago. By region, U.S. sales grew 8.9% in May, while total North American sales grew 9.8%. By end market, manufacturing sales grew nearly 11.5% while non-residential construction grew nearly 9.9%, the company said. More.
WESCO International Inc., Pittsburgh, has entered into an alliance with Plug and Play, Sunnyvale, California, a global innovation and startup accelerator platform. WESCO joins as a founding anchor member in launching their newest accelerator, B2B Sales and Distribution, focused on industry-specific startups and their technologies. More.
Turtle & Hughes Inc., Linden, New Jersey, named Nicholas Marcello as operations manager of the company’s Regional Distribution Center in Piscataway, New Jersey. More.
United Electric Supply Company, New Castle, Delaware, announced the retirement of Richard Freeberyas, vice president, vendor and new business development, after 35 years with the company. In addition, the company named Anthony Buonocore as director, marketing and supplier advancement. Buonocore will assume oversight for all strategic supplier initiatives and plan implementation. More.
Switzerland-based power and automation company ABB named Maryrose Sylvester as country managing director and head of electrification for the United States. Sylvester succeeds Greg Scheu, who will retire at the end of October.
Industrial production rose 0.4% in May after falling 0.4% in April, according to the latest data from the Federal Reserve. At 109.6% of its 2012 average, total industrial production was 2% higher in May than it was a year earlier. Capacity utilization for the industrial sector moved up 0.2% in May to 78.1%, a rate that is 1.7% below its long-run (1972–2018) average. More.
The goods and services deficit was $50.8 billion in April, down $1.1 billion from $51.9 billion in March, revised, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. April exports were $206.8 billion, $4.6 billion less than March exports. April imports were $257.6 billion, $5.7 billion less than March imports. More.
Manufacturing employment showed little change in May, according to the U.S. Bureau of Labor Statistics. Total nonfarm payroll employment increased by 75,000 in May, and the unemployment rate remained at 3.6%. The number of unemployed persons showed little changed at 5.9 million. More.
The Producer Price Index for final demand rose 0.1% in May, seasonally adjusted, according to the U.S. Bureau of Labor Statistics. Final demand prices increased 0.2% in April and 0.6% in March. On an unadjusted basis, the final demand index increased 1.8% for the 12 months ended in May. More.