MDM Premium Archives - Page 534 of 548 - Modern Distribution Management

Log In

Search
Premium Member Dashboard

All your exclusive premium content in one location.

Credit: Mike Hockett
Quarterly MDM-Baird Distribution Survey

Baird-MDM Research: Suppliers Changing Purchase Minimums

A key question in the latest Baird-MDM Distribution Survey addressed whether there is a real trend in suppliers changing minimum purchasing requirements, and who it's impacting most.
Read More

Premium Monthly

Archives

Market Insight Reports

MDM 4Q 2023 M&A Report

The report features in-depth articles that recap the year that was 2023 in distribution dealmaking, a full rundown of every deal we covered in October-December, the latest EBITDA trading multiples and more.

MDM 4Q 2023 MarketPulse Report

Find a wealth of data and analysis extracted from the 3Q23 Baird-MDM Industrial Distribution Survey, including trending charts and figures for revenue and expectations, plus plenty of interesting commentary.

MDM 3Q 2023 MarketPulse Report

Find a wealth of data and analysis extracted from the 3Q23 Baird-MDM Industrial Distribution Survey, including trending charts and figures for revenue and expectations, plus plenty of interesting commentary.

MDM 3Q 2023 M&A Report

Our 2023 third quarter M&A report features in-depth articles on activity by Ferguson and Veritiv, and chronicles the overall quarterly pace of new deals.

MDM 2Q 2023 M&A Report

See MDM’s analysis of 2Q23 M&A activity pertaining to wholesale distributors, plus M&A financial benchmarks and recent Premium articles that had an M&A focus.
Archives
Premium Events
Premium Articles
Finance
Praxair to Acquire Mittler Supply of Indiana

Praxair Distribution, Inc., Danbury, CT, a subsidiary of Praxair, Inc., has agreed to buy Mittler Supply Inc., distributor of industrial, medical, specialty gases and related welding equipment and supplies, operating in Indiana, Michigan and Illinois. Mittler had sales of $73 million in 2006 and has 210 employees.


&nbsp ;


Founded in 1946, Mittler operates a cylinder-gas fill plant, specialty-gas laboratory and a centralized warehouse for distribution of welding equipment and supplies at its headquarters located in South Bend, IN. The firm also operates several satellite cylinder-gas fill plants and 18 retail sales and distribution locations in the three states.


&nbsp ;


“The addition of Mittler Supply to our existing network in the Great Lakes ...
Free
Kennametal Sales in First 6 Months Unchanged

Kennametal Inc., Latrobe, PA, reported sales for the first six months of fiscal 2007 were $1.1 billion, level with the same period last year. Sales grew 6% on an organic basis, offset by the impact of acquisitions and divestiture of J & L Industrial Supply.


&nbsp ;


Sales for the quarter were $569 million compared with $563 million in the same quarter last year. Sales grew 6% on an organic basis.


&nbsp ;


Metalworking Solutions & Services Group sales were up 5%, led by year-over-year expansion in the distribution, aerospace and general engineering markets. The North American market continued to moderate (+1%), while conditions in the European market continued to improve (+11%), and Asia Pacific (+6%) and India (+7%) delivered solid growth.


...
Free
Applied Industrial President to Retire in December

Applied Industrial Technologies announced that Bill L. Purser, president and COO, will retire effective Dec. 31, 2007. Purser, 63, has been president since October 2000.


&nbsp ;


Ben J. Mondics, 48, will be promoted to president following Purser's departure. Mondics, effective Feb. 1, will be promoted to COO.


&nbsp ;


Mondics is currently Applied's Area Vice President - Midwest Area, where he oversees nine regions and 86 service centers in 11 states. The Midwest sales area is the largest of the company's five geographic divisions. Mondics has been with Applied since 1994.


&nbsp ;


More Breaking ...
Top Distributor Sectors
Building Products Distributor BlueLinx Sales Fall in 4Q

BlueLinx Holdings Inc., Atlanta, GA, distributor of building products, reported revenue for the fourth quarter 2006 declined about 29% to $945 million from the same period a year ago. The company's business that is tied to new home construction was negatively impacted by the slowdown and depressed wood-based structural product prices. BlueLinx reported a net loss for the quarter.


&nbsp ;


The company's fourth-quarter results historically are affected negatively by a seasonal slowdown in construction. It also had a stronger-than-expected 2005 fourth quarter in the aftermath of Hurricanes Katrina and Rita.


&nbsp ;


The company's overall unit volume fell about 17% during the fourth quarter, with structural unit volume down about 18%, and specialty unit ...
Finance
Illinois Tool Works Sells Roofing Business to OMG

Illinois Tool Works Inc. has sold its mechanical roofing fastener business for $26 million to OMG Inc., a subsidiary of Handy & Harman.


&nbsp ;


The business develops and manufactures fastening systems for the commercial roofing industry.



OMG is a manufacturer of mechanical fasteners, accessories and components and building products for the commercial and residential construction industry.


&nbsp ;


More Breaking ...
Subscriber Only
HD Board May Meet With Activist Investor This Week

The Wall Street Journal (subscription required) reported this weekend that Home Depot board members are expected to visit this week with investor Ralph Whitworth, head of Relational Investors, which owns 1.3% of HD stock. Whitworth has been critical of HD's strategy recently and says that big changes are necessary to boost the stock price post-Nardelli. Bob Nardelli recently resigned his post as CEO.


&nbsp ;


Whitworth has been critical of HD's supply business, telling CNBC's Closing Bell in January: What we believe is that management should be focused like laser beams on the core business, improving the customer experience, ...
Top Distributor Sectors
Wolseley Feels Impact of Housing Slowdown

UK-based Wolseley plc, global distributor of plumbing and heating products to professional contractors and supplier of building materials, reported it continues to be affected by the slowdown in housing and lower lumber prices in the U.S.


For the first five months to Dec. 31, 2006, Wolseley sales increased 15%, with 3% organic growth. Profit was slightly lower. In constant currency, revenue and trading profit would be about 5% higher. Results for the first six months will be reported in mid-March.


Wolseley says the housing slowdown effect was offset by good organic growth in the U.S. plumbing and heating business (Ferguson), an improved performance in continental Europe and contributions from acquisitions.


In the U.S., new housing starts have ...

Free
Eaton Sales Up 12% in 2006

Diversified industrial manufacturer Eaton Corp. reported sales for 2006 were up 12% from 2005, and profit was up 18%. Sales were $12.4 billion.


&nbsp ;


Fourth quarter sales were up 10% to $3.1 billion, with profit up 15%.


&nbsp ;


Segment Results
Fourth quarter sales for Electrical were $1.1 billion, up 9% over 2005. End markets grew about 2.5% for electrical, reflecting a slowdown from the growth rate in early 2006. In 2007, Eaton expects 4% growth, with nonresidential markets offsetting a decline in residential markets.


&nbsp ;


In Fluid Power, fourth quarter sales were $985 million, 17% above the same period in 2005. Organic growth was 7%. Fluid Power markets grew 6%, with global hydraulics shipments up 7%, ...
Finance
ElkCorp Receives Second Buyout Offer

ElkCorp, Dallas, TX, manufacturer of roofing and building products, has received another offer to purchase all of ElkCorp's outstanding shares for $42 a share by an affiliate of Building Materials Corporation of America.


&nbsp ;


The special committee and board of directors, consistent with its recently announced merger agreement with The Carlyle Group, will review the offer and make a recommendation to ElkCorp's shareholders.


&nbsp ;


On January 16, 2007, ElkCorp announced that it has entered into an amended merger agreement with Carlyle, under which Carlyle commenced an offer to acquire all of ElkCorp's outstanding shares for $40.50 per share. The revised Carlyle tender offer represents a $2.50 increase over the $38.00 price per share provided in the ...
Free
Rexel Posts 11% Organic Sales Growth in 2006

Rexel reported sales for fiscal 2006 at 9.3 billion euro, or $12.1 billion, up 26% from 2005, and up 11.1% on a comparable basis (same scope of consolidation, exchange rates and business days).


&nbsp ;


In North America, Rexel sales reached $5.2 billion, up 12.2% on a comparable basis from last year. Sales for the fourth quarter were $1.62 billion, up 4% from the same period a year ago on a comparable basis.


&nbsp ;


Sales in Europe reached $5.9 billion for the year. Operations there posted double-digit growth.


&nbsp ;


Overall, sales for Rexel in the fourth quarter were $3.5 billion.


&nbsp ;


CEO Jean-Charles Pauze said that the performance, in part, reflects increases in ...
Subscriber Only
Industrial Production Rises 3% in 2006

Industrial production rose 0.4% in December after a decrease of 0.1% in November. Output in November was previously estimated to have advanced; weaker data for a number of industries, particularly steel, led to the downward revision.


&nbsp ;


For the fourth quarter as a whole, industrial production decreased 0.5% (annual rate). In the manufacturing sector, output increased 0.7% in December, and most major industry groups registered gains.


&nbsp ;


The output of utilities fell 2.6%, the result of relatively mild temperatures during the month, while the output of mines moved up 0.8%.


&nbsp ;


Over the 12 months ending in December, total industrial production increased 3.0%, to a level that was 112.4% of its 2002 average, and total ...
Top Distributor Sectors
Fastenal Sales Up 18.8% in 2006

The Fastenal Company, Winona, MN, reported sales for the year ended Dec. 31, 2006, were $1.8 billion, an increased of 18.8% over 2005. Profit increased 19.3% to $199,038.


&nbsp ;


Sales for the fourth quarter ended Dec. 31, 2006, were $448,729, an increase of 16.8% over the same period last year. Profit increased 16.4% to $45,570.


&nbsp ;


In 2006, Fastenal opened 245 new sites, representing an increase in stores of 14%. Fastenal operated 2,000 sites on Dec. 31. Employees grew to 7,174, up 12.2% from 2005.


&nbsp ;


Details here.

Related Links:
Fastenal 3Q Sales Up 16.9% ...
Finance
Stuart C. Irby Acquires Companies in North Central

Jackson, MS-based Stuart C. Irby Co., a subsidiary of Sonepar USA, has acquired Burmeister Electric Company, Minneapolis, MN, and High Voltage Testing Laboratories, Fargo, ND.


Burmeister was established in 1919 to serve utility companies in the Upper Midwest.


&nbsp ;


Burmeister is a full-line stocking distributor and manufacturers' agent offering products to the electric utilities for transmission and distribution requirements.=


&nbsp ;


HVTL is a fully certified testing laboratory offering high voltage testing services and sales of PPE (personal protective equipment) safety products, used by electric utility lineman and field service personnel in the contractor and industrial markets.


&nbsp ;


Burmeister will continue to ...
Top Distributor Sectors
Applied Industrial Sales Up 4% in 2Q

Applied Industrial Technologies, Cleveland, OH, reported sales increased 4% in the second quarter 2007 to $472.36 million. Profit grew 21% to $18.5 million.


&nbsp ;


For the six months ended Dec. 31, 2006, sales increased 7% to $964.9 million from $899.3 million in the same period last year. Profit was up 23% to $39.7 million.


&nbsp ;


Applied CEO David Pugh said: Although our sales growth was softer than we expected, we believe the economic outlook suggests continued growth through our fiscal year.&nbsp ; We are actively managing our business and are working to keep costs in line with the slower pace of the economy. Based on the current state of the industrial economy, and with six months of results under our belt, we now expect our year-end sales to ...
Finance
SKF Acquires Preventive Maintenance Company

SKF has acquired the Preventive Maintenance Company Inc., Elk Grove Village, IL. PMCI has 70 employees with annual sales of about $10 million.


PMCI is in Predictive Maintenance services for industrial customers in the pulp and paper, metals, food, automotive and other industries. The PMCI acquisition strengthens SKF in reliability services, condition monitoring products and maintenance strategies.


The integration of PMCI into the SKF Group has just started.

Related Links:
 SKF Group Sales Grow 8.3% in First Half
SKF to Buy Austrian Industrial Seals Co.

...

Finance
Apollo Management Takes Stake in Bradco Supply

Apollo Management, which also recently invested in Rexnord, has made an investment in Bradco Supply Corp., a roofing supply distributor based in Avenel, NJ. Bradco has more than 150 branches in the U.S.


&nbsp ;


We are happy for the relationship with Apollo, said founder Barry Segal. In a short period of time we have become comfortable with the chemistry and we see this as a great opportunity to significantly grow the company."


&nbsp ;


Apollo is a private equity, debt and capital markets investor with offices in New York, London and Los Angeles.


&nbsp ;


More Breaking ...
Subscriber Only
Wholesale Prices Rise 1.1% in 2006; 0.9% in December

Wholesale prices rose 1.1% in all of 2006, in contrast to the 5.4% rise in 2005, the Department of Labor reported. The government attributed the slower rate of advance to the index for finished energy goods, which fell 2% in 2006 after climbing 23.9% a year earlier. Otherwise, wholesale prices except foods and energy moved up 2% in 2006 following a 1.4% gain in 2005.


&nbsp ;


At the earlier stages of processing, prices received by intermediate goods producers increased 2.8% in 2006 compared with an 8.6% advance in the preceding year, while the crude goods index declined 2.4% after moving up 21.1% in 2005.


&nbsp ;


Wholesale prices rose 0.9% in December, seasonally adjusted. The rise follows a 2% advance in November and a 1.6% decline in October. At the ...
Top Distributor Sectors
Nov. Power Transmission/Motion Control Sales Up 10.7% YTD

In November, U.S. distributors' year-to-date sales of power transmission/motion control products climbed 10.7% as compared to sales for January through November 2005, according to the latest November trend data released by the Power Transmission Distributors Association. Sales fell 3.6% over the previous month and were up 7.8% as compared to November 2005.


&nbsp ;


Days sales in accounts receivables rose 1.3% as compared to October 2006 and increased 2.9% as compared to the same month last year.&nbsp ; Annualized sales to inventory ratio in November was 8.3, compared to 7.9 in 2005.


&nbsp ;


For November, the confidence level of U.S. distributors decreased to 6.2 from 6.3 in October on a 10-point scale.


&nbsp ;


Canadian distributors' ...
Top Distributor Sectors
Wurth Grows 12% in 2006

Global fastener distributor The Wurth Group, based in Germany, recorded 12% sales growth in fiscal 2006 to 7.74 billion euro, or US$9.9 billion. Outside of Germany, sales increased by 11.8% to 4.62 billion euro, or US$5.96 billion.


Profit grew by 16.5% overall.


In 2006, Wurth grew its staff by 8.2%, and its sales representatives by 5.6% to 29,020 worldwide.


The Wurth Group also expanded to Mongolia in 2006, bringing the group to 83 countries.


Related Links:
Wurth Service Supply Reports 28.5% Sales Increase in 2005

More Breaking ...

Investment Banking Directory

Work with a banking partner that knows your business. Get detailed information on investment banks with expertise in the wholesale distribution industry.

Learn More
Featured Content

SHIFT 2023 Playbook

As distribution leaders constantly seek educational resources on business transformation, technology optimization and talent…

Data-Driven Decisions: Opportunities and Challenges in the Data Revolution

Distributors of all sizes and in all verticals are ambitiously investing in data capabilities…

Elevate Your Sales Game: The Ultimate CRM Playbook for Distributors

Customer expectations are evolving, buying behavior is shifting, and competition has become more intense….

What It Takes to Embrace AI in Distribution for Next-level Business Success

Find out how wholesale distribution executives in various stages of adoption have practically applied…
Go to Library

Market Prospector

  • Build strategic sales plans.

  • Determine market and demand.

  • Create smart prospect lists. 

Turn your sales data into actionable data with Market Prospector.  A web-based SAAS tool that gives you insight into your market, your territories, your customers and new prospects too. 

Learn More

Sign Up for the MDM Update Newsletter

Our daily newsletter is your best source for news and trends in the wholesale distribution industry.

Sign Up

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.