There’s been a flurry of activity in this first full week after the holiday season, so here’s the top 5 stories we shared during the week of January 5-9.
Anixter Puts Fasteners Unit Up For Sale (Blog): Following an unsuccessful attempt to find a suitor to buy the company early last year, Anixter International has put its fasteners division up for auction, according to multiple sources.
The sale of the fasteners division is likely to fetch more than $500 million, with final bids due later this month. The auction reportedly has attracted interest from private equity, rather than strategic bidders.
Anixter, No. 6 on Industrial Distribution’s 2014 Big 50 List, had a market value of $3.2 billion t the time of its attempted company sale last August. That figure is currently down to $2.9 billion.
MSC Industrial Reports Fiscal Q1 Results: MSC, No. 14 on our Big 50 List, reported a healthy 7.8 percent year-over-year sales growth to $731.1 million for Q1 2014. Adjusted operating income for the fiscal first quarter 2015 was $97.5 million. GAAP operating income for the fiscal first quarter 2015 was $94.0 million.
Adjusted net income for the fiscal first quarter 2015 was $59.6 million, compared to $62.6 million, in the same quarter a year ago.
Evergreen Marketing Adds New Member, 3 Suppliers: Joining the group as a new member-owner is Tool & Anchor Supply based in Denver, CO. Tool & Anchor also has a location in Greeley, CO.
In addition, three manufacturers joined the group as new preferred suppliers: Chicago Pneumatic Construction Tools, Chicago Pneumatic Industrial Tools and National Marker Company.
Ace Hardware Acquires Jensen Distribution: Ace announced Monday it had acquired Jensen Distribution Services, a profitable 131-year-old distributor of hardlines goods.
The acquisition also creates a platform for lower cost of goods driven by scale and price synchronization, as well as access to new categories, products and suppliers.
GHX Industrial Acquires Hose & Fittings: Hose & Fittings, Inc., an ISO 9001: 2008 certified company, is a value-added fabricating distributor and key supplier to oilfield companies and OEMs with worldwide offshore and subsea operations whose primary market is offshore drilling and production. GHX is a subsidiary of United Distribution Group.
According to GHX, HFI will now be in position to offer a greater depth of products and services to existing and new customers. Current and expanded product offerings include notable brands such as Eaton, Spir Star, Parker Hannifin and Dixon Valve & Coupling.
