For distributors, the size of the investment is significant, but where Stanley Black & Decker puts the money will matter more.
For EECO, the strategic value extends beyond adding another branch. Foster gives the company deeper access to electrical contractors in Central Virginia, complementing EECO’s existing concentration in industrial automation and power solutions.
The combination of organic customer growth and acquisitions is increasing the amount of business PFG’s distribution infrastructure must support.
The company that began more than a century ago supplying independent grocers is building a business that combines a 60-distribution-center network with more than 200 company-operated stores and, if the transaction closes, majority ownership of Winn-Dixie.
Chairman and CEO Brad Jacobs said the TopBuild acquisition makes QXO the second largest publicly traded building products distributor in North America and expands its presence at customer job sites.
At Midland, Mark Roszkowski will oversee a business that distributes fittings, valves, hoses, clamps and related flow-control and connection products.
ADI completed its spin-off from Resideo on Aug. 3 and began trading on the New York Stock Exchange under the ticker ADIG on Aug. 4.
For the full fiscal year, sales increased 8.8% to $4.967 billion from $4.563 billion. Net income increased 5.5% to $414.5 million from $393.0 million.
The interim assignments come less than two weeks after Home Depot announced a broader organizational realignment designed in part to accelerate growth with professional contractors.
The industry contributes $17.8 billion in economic value and provides $8.7 billion in employee compensation, including $7.6 billion in wages and salaries.