U.S. Dockworkers Approve 6-Year Labor Contract
The union representing dockworkers at the Gulf and East Coast ports approved a six-year labor contract on Feb. 25, averting the threat of a strike that previously had some distributors increase safety...
View ArticleBeacon 2024 Sales Near $10B Despite Sharp 4Q Seasonal Slowdown
Roofing, siding and other exterior building products distributor Beacon posted its 2024 fourth quarter and full-year financial results on Feb. 27, showing solid October-December sales growth that was...
View ArticleParts Town Annual Revenue Reaches $2.5B
OEM foodservice, HVAC and residential appliance parts distributor Parts Town Unlimited — the parent company of Parts Town — announced its annual sales for 2024 in a Feb. 26 blog post. Parts Town...
View ArticleFebruary M&A Roundup: Slower Start to 2025 After Robust 2024
MDM reported 22 transactions in February — either pending or completed — involving at least one distributor in the building supply, industrial or commercial hardgoods sectors. This figure was...
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PPE Supplier Estex Manufacturing Goes Private
Fairburn, GA-based industrial sewn products manufacturer and supplier Estex Manufacturing was acquired by private equity firm Shorehill Capital. Terms of the transaction were not disclosed. Established...
View ArticleTrump: U.S. to Impose Another 10% Tariff on China
In another salvo to ramp up his trade policy, President Donald Trump shared Feb. 27 that the U.S. will impose a new 10% tariff on imported Chinese goods, citing the supply of China-made fentanyl as the...
View ArticleConexiom Launches AI-Powered “Ideal Order Platform”
Sales order automation SaaS platform provider Conexiom announced the launch of its AI-powered platform, Conexiom Ideal Order. Conexiom said the platform is designed to help manufacturers and...
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Galco Acquires Fellow Automation Distributor Brozelco
Featured photo: Galco acquisition of Brozelco, Inc. (courtesy of Galco Linkedin) Madison Heights, MI-based industrial electronics and automation products distributor Galco Industrial Electronics...
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White Cap Acquires Kris-Con Supply & Fasteners in TX
Construction and industrial supplies distributor White Cap acquired Texas-based Kris-Con. Terms of the transaction were not disclosed. Headquartered in Northwest Houston, TX, Kris-Con is a distributor...
View ArticleTreasury Dept. Suspends CTA Enforcement, Reporting Requirements
The Treasury Department announced on March 2 it will not enforce penalties or fines related to the Corporate Transparency Act. The CTA, which was signed into law in January 2021 and had its enforcement...
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PMI Dips as New Orders Fall & Prices Rise
The Institute for Supply Management released its monthly manufacturing Purchasing Managers Index (PMI) on March 3, reflecting February activity, which revealed a moderate month-to-month decline...
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Purvis Industries Acquires A & A Resources in Alabama
Bearings and power transmission products distributor Purvis Industries acquired the assets of A & A Resources, Inc. Terms of the transaction were not disclosed. Based in Hayden, AL, A & A...
View ArticleQXO Again Extends Tender Offer to Buy Beacon
In its continuing pursuit of acquiring specialty materials distributor Beacon Roofing Supply, QXO has again extended the deadline for its all-cash tender offer, now set for 5:00 pm ET on March 10....
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SRS Distribution Acquires Rising Star Wholesale in Iowa
Building materials distributor SRS Distribution — a subsidiary of The Home Depot — acquired Rising Star Wholesale. Terms of the transaction were not disclosed. Based in Des Moines, IA, Rising Star...
View ArticleWajax 2024 Revenue Falls 2.6% Amid Challenging 2nd Half
Canada-based heavy machinery and industrial parts distributor Wajax reported its 2024 fourth quarter and full-year financial results on March 4, showing an increase in 4Q sales while margins declined....
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Vallen’s Timmons Promoted to CFO
MRO and industrial supplies distributor Vallen Distribution promoted Sonia Timmons to Chief Financial Officer, effective March 1. Timmons joined Vallen in 2007 as a senior financial analyst and has...
View ArticleTIPCO Acquires Hose Assembly Supplier Flexline
Fluid solutions distributor TIPCO Technologies acquired Kenilworth, NJ-based Flexline. Terms of the transaction were not disclosed. Flexline is a manufacturer of specialty hose assemblies, catering to...
View ArticleHoneywell to Buy Pumps Maker Sundyne for $2.2B
Industrial manufacturing conglomerate Honeywell agreed to acquire Arvada, CO-based Sundyne from private equity firm Warburg Pincus for an all-cash transaction for $2.16 billion. Sundyne designs,...
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Former EIS Chief Exec Takes Same Post at GCG
Chicago, IL-based wire, cable, connectivity and automation distributor Genuine Cable Group (GCG) appointed Glenn Pennycook as its Chief Executive Officer. Pennycook joins GCF from like distributor EIS,...
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Do it Best Appoints 2 Directors of Operations
Hardware, lumber and building materials buying cooperative Do it Best appointed Matt Loprest and Tim Pieper as Directors of Operations. Loprest brings extensive leadership experience in logistics,...
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