Interline Brands reports loss
Interline Brands reported a net loss of $15.6 million for 2012, primarily as a result of merger related expenses and debt payments.
The company was acquired by affiliates of GS Capital Partners and P2 Capital Partners in August. During the year, the company also completed the acquisition of JanPak Inc., a an institutional facilities maintenance business.
Sales for the year increased 5.8% to $1.32 billion. On an organic daily basis, sales increased 4.9% for the fiscal year. Sales to institutional facilities customers, comprising 45% of sales, increased 8.5% for the year. Sales to multi-family housing facilities customers, comprising 32% of sales, increased 7.9% for the year, and sales to residential facilities customers, comprising 23% of sales, decreased 1.2%.
For the fourth quarter, Interline reported a loss of $3.2 million. Sales for the quarter were $323.7 million, a 6.8% increase compared to 4Q 2011.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
