Pandemic Revenue Index Up 5%
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Feb. 8 to Feb. 12 increased 5%, returning to the normal growth trend of mid-single-digit improvement.
Type: News
Residential Building Permits Up 22.5% in January
But housing starts down compared to year-ago period and the previous month, according to the latest residential construction report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
Industrial Production Up 0.9% in January
According to the Industrial Production and Capacity Utilization Report, manufacturing output increased 1% during the month, about the same as its average gain over the previous five months.
NOW Inc. Sales Nearly Cut in Half in 2020
NOW Inc., which reported a loss of $427 million for the year, also saw revenue sink 45.1% in in 2020.
Krayden Acquires Northern Composites
All Northern Composite employees are staying on and the company will continue to operate at its existing facilities in Hampton, New Hampshire (headquarters), and Greensboro, North Carolina.
KKR to Acquire Flow Control Group from Bertram Capital
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.
Lawson Products Announces Board Appointment
MRO distributor names Bianca Martinez Rhodes as director, expanding the company’s board to eight members.
Motion Sales Dip 3.3% in 4Q
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.
Regal Beloit to Pay $3.7 Billion for Rexnord’s Process & Motion Control Business
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.
Ingersoll Rand to Sell Interest in HPS Segment to PE Firm
Company will divest its majority interest stake in its High Pressure Solutions segment to the private equity firm American Industrial Partners for $300 million.
Heritage Landscape Supply Acquires Watson Supply
Tim Watson will continue to lead the company under the Watson Supply banner.
Motion Announces Management Promotions
MRO distributor appoints seven to leadership roles in various divisions and regions around the country.
WESCO Divests Canadian Datacom Business
This latest transaction is part of WESCO’s commitment to divest its legacy Canadian Utility and Datacom businesses in connection with Canadian law.
MRC Global 2020 Sales Sink 30.1%
In the fourth quarter, sales decreased 24.4% as the company also reported a loss of $11 million in the period.
Watsco Sales Increase 6% in 2020
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.
Pandemic Revenue Index Up 14.1%
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Feb. 1 to Feb. 5 increased 14.1%, continuing a normal growth trend.
Wholesale Trade Sales Up 1.7% in December
Wholesale trade shows improvement from same month in 2019 and from the previous month of November, according to the latest report from the U.S. Census Bureau.
Beacon Completes Divestment of Interior Business Division
Building materials distributor announced in December 2020 that it was unloading this division to PE-backed Foundation Building Materials for $850 million.
Würth Industry North America Acquires Atlantic Fasteners
Latest addition to Würth’s portfolio will join its new construction services business division, Würth Construction Services.
WESCO’s 2020 Sales Grow 48% on Anixter Addition
For the fourth quarter, sales were also up big — 97% — thanks to its market-shifting acquisition last year.
