ID Big 50 companies headlined another busy week of M&A activity. Here are the top 5 stories we shared during the week of Jan. 12-16.
Roll-Kraft Adds Fastenal Vending Machines: News of tube and pile roll forming tooling producer Roll-Kraft having installed the Fastenal Automated Supply Technology vending system at its Mentor, OH headquarters was our most-read item of the week. That signals a strong interest in the specialized realm of industrial vending machines, and unsurprisingly, that everyone is keeping a watchful eye on what Fastenal is up to. Roll-Kraft notes that Fastenal customers are able to reduce their supply consumption by 25-35 percent while increasing worker productivity to continually meet customer deliveries by making supplies available 24/7 in close proximity to the workers who need them.
Motion Industries Acquires Florida-based Miller Bearings: The biggest acquisition of the week undoubtedly was ID Big 50 No. 9 Motion Industries acquiring Orlando, FL-based Miller Bearings, an independent MRO distributor. Miller, which serves customers from 17 locations, has been in business for 67 years and currently employees more than 130 people.
Kaman To Acquire G.C. Fabrication: ID Big 50 No. 20 Kaman Industrial has expanded its Automation, Control & Energy platform into the New York metro market by adding G.C. Fabrication, a Schneider Electric/Square D distributor that carries a variety of electrical power, automation, process controls, specialized HVAC, water and wastewater systems, communication, and networking devices from a premier set of global manufacturers. GCF had 2014 sales of approximately $20 million and employs 30 people.
Fastenal Boosts Q4, 2014 Sales: Fastenal reported healthy fourth quarter and total 2014 sales, though Q4's was slightly less than analysts' forecasts. Fastenal's Q4 sales climed 13.8 percent year-over-year to $926 million, with daily sales improving 15.7 percent. Net earnings for the quarter jumped 19.3 percent to $118.4 million. For the year, Fastenal's revenue had a 12.2 percent increase to $3.73 billion, daily sales increased 12.7 percent to $14.7 million, while 2014 earnings rose 10.1 percent to $494.2 million.
HD Supply C&I Opens 3 New Locations: HD Supply Construction & Industrial – White Cap, a distributor of specialty hardware, tools and concrete accessories for professional contractors, announced Thursday it opened new locations in the Boston Waterfront District, Downtown Los Angeles, and Killeen, Texas. The new facilities increase the presence of the company in three key geographic regions. The new locations will provide industrial, commercial and residential contractors with an extensive inventory, combined with will-call, site delivery and direct ship options.
