Jack Keough takes a closer look at DXP Enterprises and their acquisition outlook in the coming year. The Houston-based MRO distribution giant is continuing to make acquisitions and expects to make a total of three this year, after completing nine total acquisitions in 2012.
ITW had previously said it would sell off slower-growing units and focus on those with the most...
Jack Keough discusses the NAHAD convention's turnout and reacts to keynote speaker Andrew H....
Industry analysts, distributors and manufacturers were eagerly waiting Eaton’s fourth quarter...
Lyon Workspace Products, formerly Lyon Metallic and then Lyon Metal, began as a manufacturer of sheet metal products . Now, Lyon is considered a “leading manufacturer and supplier of top quality lockers, industrial storage and workspace products,” according to its website. The acquisition is good news for the nearly 450 workers at Lyon Workspace.
Jack Keough takes a closer look at Kaman Corporation on the heels of their restructuring efforts, uncovering their possible intentions to once again enter acquisition territory. The company indicated that it may be looking at acquisitions in the fluid power or electrical automation areas, both of which have been extremely beneficial for Kaman.
The Regal Beloit Corporation is reporting net sales for the first quarter 2013 were $778.2 million compared to $807.9 million for the first quarter of 2012, a decrease of 3.7 percent. Net Income for the first quarter 2013 was $50.7 million compared to $49.9 million for the first quarter of 2012.
This large product expansion complements the Acklands-Grainger 2013 catalogue , which launched in February, and offers the industry’s broadest selection of 116,000 products in 11 categories, including 16,000 new items and 40 new suppliers.
In 2012, Smith Services reported sales of approximately $17 million. The 140 Smith Services employees provide electric motor repair and field technical services to end-users across seven states in the region, serving a wide variety of markets including power generation, petrochemical, paper, steel, nuclear and mining.
Gross profit for the fourth quarter of fiscal 2012 increased by $101 million, or 20.8 percent, to $587 million compared to $486 million for the fourth quarter of fiscal 2011. On a 52-week basis, gross profit in the fourth quarter of fiscal 2012 increased by $59 million, or 12.1 percent, as compared to the fourth quarter of fiscal 2011.
Since its founding in 1922 as Utility Supply Company, United Stationers has long been known as a wholesaler of business products such as office supplies and furniture. However, in the past few years, United Stationers has emerged as a major player in the industrial and janitorial areas through its acquisitions of companies servicing those sectors.
Zep Inc., a manufacturer of a wide variety of high-performance maintenance and cleaning chemicals for the automotive and MRO/industrial markets, today reported 2nd sales of 163.4 million, a 7.7% increase from the second fiscal quarter of 2012.
Lufkin manufactures and services a variety of pumps in its oilfield unit and also designs and manufactures heavy-duty enclosed gears for its power transmission business. The gears are used in oil-field and industrial applications and sold to a wide range of industries.
Distribution lost a true leader last week when Allan Chartier, former CEO and president of Midwest Industrial Tools, died at the age of 67. Allan was always the steady voice who said what he thought and won the respect of his colleagues and friends with his wit, intelligence, and the ability to bring people together - people who often had different interests in mind.
Industrial production increased 0.7 percent in February after having been unchanged in January, the Federal Reserve reported today. Manufacturing output rose 0.8 percent in February, and the index revised up for the previous two months. In February, the output of utilities advanced 1.6 percent, as temperatures for the month were near their seasonal norms after two months of unseasonably warm weather.
The 2013 first quarter CEO Economic Survey by the Business Roundtable show that this is the first time economic expectations have increased in the last four quarters. The CEOs expect a 2.1 percent growth for 2013, a slight increase from last quarter’s estimate of 2.0 percent.
For the first time in its history, DXP Enterprises, one of the largest industrial distributors in the country, cracked the $1 billion in sales plateau, greatly helped by its acquisition activity - and the company is not done yet. Over the last decade, DXP’s stock was the fifth best annual average return for all public companies in the U.S. including Apple, which was eighth, according to DXP executives.
As it celebrates its 90th anniversary, Applied Industrial Technologies (AIT) has positioned itself for continued growth through a series of acquisitions, geographical and product expansions, and technological expertise. It’s little wonder as to why this Cleveland, OH-based company is one of the premier industrial distributors in the country with $2.4 billion in sales.
HD Supply, one of the largest industrial/construction distributors in the country, is planning to become a public company, the Reuters News Agency reported today. Bain Capital, the Carlyle Group, and Clayton, Dubilier & Rice, the private equity firms that led the $8.5 billion buyout of HD Supply in 2007 will meet with prospective underwriters for an IPO in the next week, Reuters said.
Kaman Industrial Technologies (KIT), the distribution arm of the Kaman Corp, reported yesterday an 8.8 percent increase in sales for 2012 but a slowing in sales at the end of the year means facility consolidations and headcount reduction.
Net income loss in the fiscal 2013 second quarter was $8.7 million compared to $90.0 million in the same quarter last year. Brady also said it will be changing its organizational structure from geographically-based to an organization structured around three global business platforms: Identification Solutions, Workplace Safety and Die-Cut.
Motion Industries increased sales by 7% for the year, driven by the combination of effective growth initiatives and a generally healthy industrial economy, although the company said it observed slower levels of manufacturing growth over the latter part of 2012. Motion is one of the largest power transmission/fluid power/MRO distributor in the country.
The Industrial Packaging segment designs and manufactures steel, plastic, and paper products used for bundling, shipping, and protecting transported goods. The segment includes such well known brands as Signode, Strapex, Angleboard and Mima among others and had 2012 revenues of approximately $2.4 billion.
The Industrial Distribution Group has withdrawn its offer to buy Commercial Solutions Inc., Edmonton Alberta. IDG said last month that it was buying Commercial Solutions for C$51.4 million.
Sales were $684.6 million in the fourth quarter 2012 versus $694.5 million in the comparable 2011 period, a decrease of 1.4%. Operating income for the fourth quarter increased $3.3 million to $85.7 million, or 12.5% of sales, from $82.4 million, or 11.9% of sales, in the comparable 2011 period.
United Stationers Inc. reported record revenue and earnings per share for both the fourth quarter and year ended December 31, 2012. It also announced a workforce reduction and facility closure program to reduce costs while allowing continued investment in growth initiatives. The company intends to record a pre-tax charge in the first quarter of 2013 for expenses related to this program.
RBC Bearings Incorporated has reported 3Q net sales of $96.3 million, an increase of 1.3% from the $95.1 million in the same quarter in fiscal 2012. RBC, headquartered in Oxford, Conn., is an international manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries.
Rexnord, owned by Apollo Global Management, said yesterday it has hired the Goldman Sachs Group Inc. to review its options, including a possible sale. The alternatives considered could include the sale of the company, the possible sale of one or both of its business platforms or the maintenance of the current structure and execution of the existing business strategy.
MSC, one of the largest MRO distributors in the country with more than $2 billion in annual sales, has achieved remarkable success over the years, but it wasn’t that long ago when it was considered just a regional metalworking distributor.