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With QXO’s acquisition of Beacon set to finalize by the end of April, let’s look at what the deal does for both sides and the attributes that QXO just couldn’t walk away from.
Border States, Fargo, ND, has agreed to buy Minnesota Electric Supply Company, a full line provider of electrical products with eight locations in Minnesota and more than 3,000 customers.
Sonepar USA, Philadelphia, PA, has acquired Dallas, TX-based Crawford Electric Supply Company, Ltd. Crawford Electric had sales of $175 million in 2005, according to Electrical Wholesaling’s 2006 top 200 issue.
Air Products, Lehigh Valley, PA, has agreed to acquire the industrial gas business of Central Europe-based BOC Gazy Sp z o.o. from Linde Gas for 370 million euros (US$481 million).  ;
Strategic Distribution, Inc., Bristol, PA, has agreed to be bought out by Platinum Equity for $30 million.
MSC Industrial Direct Inc., Melville, NY, distributor of MRO supplies to industrial customers, reported sales of $402 million for the first quarter 2007, an increase of 35.9% from the same period in fiscal 2006. Profit increased 26.2% to $40.3 million from the year-ago period.
Prices for manufactured goods in Canada remained unchanged for a second consecutive month in November, while prices for raw materials increased after three months of significant declines.
Ellison Technologies, Inc., Cleveland, OH, provider of engineered systems and industrial equipment to metal-working and metal-cutting manufacturers, has acquired Jackson Machinery Company, a privately held distributor based outside of Cleveland.The acquisition provides Ellison a stronger position in northern Ohio, a strong manufacturing base. The area includes major industrial markets such as Cleveland, Akron-Canton, Mansfield, Youngstown and Toledo. Industries represented include aerospace, automotive, agricultural, medical, and energy. Processes used include high-speed and multi-axis machining, robotic automation, continuous flow, and setup reduction. Until being acquired, Jackson Machinery was an exclusive dealer of Mori Seiki products and sub-dealer to Mori Mid-America Sales, …
Construction spending during November 2006 was estimated at a seasonally adjusted annual rate of $1,184.1 billion, 0.2 percent below the revised October estimate of $1,186.7 billion. The November figure is 0.1 percent above the November 2005 estimate of $1,183.1 billion.
Airgas, Inc., Radnor, PA, has acquired CFC Refimax, LLC, a full-service refrigerant supplier and reclamation company based in Atlanta, GA.  ; The business, which has about 50 employees, had about $21 million in annual sales in 2006.
The Home Depot’s Bob Nardelli has resigned from his posts as president, CEO and chairman of the board as of Jan. 2, 2007. Frank Blake, the company’s executive vice president, succeeds him.
The move comes amid criticism from investors over Nardelli’s pay and slow stock gains during his reign.
The board also announced that CFO Carol Tome and head of the wholesale division, Joe DeAngelo, will be assuming additional responsibilities. Tome will be assuming responsibility for mergers and acquisitions, credit services and additional strategic responsibilities. DeAngelo was appointed to the newly created position of Chief Operating Officer. In this position, DeAngelo will continue to oversee HD Supply and will assume additional responsibilities for the retail …
Praxair Distribution, Danbury, CT, a division of Praxair Canada Inc., has acquired the Canadian propane tank-exchange business of Blue Rhino, a Ferrellgas Partners L.P. company.
Under the agreement, Praxair acquired more than 900 propane tank-exchange display cages at retail locations across Canada. In addition, it will take over the contract to supply more than 300 retail gasoline stations belonging to Shell Canada Products with 20-pound propane tanks for their exchange program. In conjunction with this transaction, Praxair also signed a distributor agreement with Superior Tank Incorporated. Superior Tank will serve Praxair’s propane tank-exchange customers in the Atlantic Provinces.
Previously, Praxair provided propane …
Economic activity in the manufacturing sector expanded in December following a one-month decline, while the overall economy grew for the 62nd consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.
Kennametal Inc., Latrobe, PA, has agreed to acquire Federal Signal Corporation’s cutting tool business comprised of Manchester Tool Company, ClappDiCO Corporation and On Time Machine, Inc. for $67 million.
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