December 2021 News

GWS Tool Group acquires Carbide Tools Mfg. 

GWS Tool Group has acquired Carbide Tools Mfg. Inc. based in Menomonee Falls, Wisconsin.

HGR Industrial Surplus acquires Tramar Industries

HGR Industrial Surplus acquired Tramar Industries, a CNC machinery marketplace.

IWDC hits record

The IWDC announced that it broke its all-time annual members' spend record set in 2019.

American Industrial Partners acquires RelaDyne

American Industrial Partners has acquired RelaDyne Inc. from Audax Private Equity.

MSC Q1 sales up 9.9 percent

MSC Industrial Supply reported fiscal 2022 first-quarter sales of $848.5 million, an increase of 9.9 percent from $771.9 million last year.

October cutting tool consumption up by 11.7 percent
October 2021 U.S. cutting tool consumption totaled $179.6 million, an increase of 10.1 percent from September's $163.1 million and up 11.7 percent compared with the $160.7 million reported for October 2020.

Shurtape Technologies names new CEO

Vuk Trivanovic, CEO of the Shurtape Technologies Industrial and Engineered Solutions (ESG) Groups, will become CEO of Shurtape’s global business, including its Ohio-based Consumer & Craftsman (C&C) Group.

Chicago Fed National Activity Index declined in November

Led by slower growth in production-related indicators, the Chicago Fed National Activity Index decreased to +0.37 in November from +0.75 in October.

White Cap acquires Cook & Boardman rebar operations

White Cap Supply Holdings has closed on an agreement to acquire the rebar operations located in Nashville, Tennessee, that were previously part of The Cook & Boardman Group.

Enerpac Tool Group sales climb 9.6 percent

Enerpac Tool Group Corp. reported sales of $130.9 million for the first quarter of fiscal 2022, a 9.6 percent gain from $119.4 million in the same period last year.

Enerpac names EVP marketing and president - Americas

Enerpac Tool Group Corp. announced that Scott Vuchetich has joined the company as executive vice president of marketing and president – Americas.

AMES Companies to acquire Hunter Fan Co.

The AMES Companies Inc., a subsidiary of Griffon Corporation, has agreed to acquire Hunter Fan Company, a manufacturer of residential ceiling, commercial, and industrial fans, for $845 million.

Pearlman Group buys Vector Tools

The Pearlman Group, a multi-channel developer and specialty distributor of supplies, tools and equipment, has acquired Vector Tools.

OTC buys AAP Automation

Ohio Transmission Corporation continued its flurry of acquisition activity this week with news that the company acquired AAP Automation.

BSA sets plans for 2022 convention

The Bearing Specialists Association (BSA) will meet April 30 – May 3, 2022 at the Hyatt Regency Indian Wells in Indian Wells, California, for the association's 56th Annual Convention.

CFC Supply joins Evergreen

The Evergreen Marketing Group announced CFC Supply as a new member-owner, serving the Ogden and Salt Lake City, Utah markets.

Industrial Supply Company backs Utah Food Bank

Industrial Supply Company's charity golf tournament has raised $22,000 for the Utah Food Bank.

Solve Industrial Motion acquires Bearings Limited

Solve Industrial Motion Group has acquired Bearings Limited, a manufacturer of bearings and power transmission components under the Tritan brand.

OTC acquires TP Pump

In its second acquisition in one week, Ohio Transmission Corporation announced that it has acquired TP Pump. 

Motion Industries to acquire Kaman Distribution Group

Genuine Parts Company announced that its wholly-owned subsidiary, Motion Industries Inc., will acquire Kaman Distribution Group from private investment firm Littlejohn & Co. LLC.

OTC acquires Critical Rental Solutions

Ohio Transmission Corporation (OTC) has acquired Critical Rental Solutions, a provider of oil-free air and temperature control rental equipment.

Force Control sales manager retires

Force Control Industries announced the retirement of sales and marketing leader Stan Porter who will depart at the end of the year.

Sullair acquires distributor Compressor-Pump & Service

Sullair has acquired its Salt Lake City-based distributor, Compressor-Pump & Service (CPS).

BSA convention recap

Over 150 top bearing industry leaders representing authorized distributors and participating manufacturers gathered in Naples, Florida, from Nov. 14-17, 2021, to learn, get motivated for 2022, renew old relationships, and make new ones.

Winsupply acquires H2O Supply

Winsupply Inc. has acquired H2O Supply, a Texas-based wholesale distributor of plumbing, pipe, valves and fittings supplies with two locations in the Dallas and Fort Worth area.

DXPE sales climb 31.5 percent

DXP Enterprises said its third-quarter 2021 sales increased 31.5 percent to $289.5 million, compared to $220.2 million for the third quarter of 2020.

UpstartWorks adds EDI capabilities

UpstartWorks, an e-commerce commercialization platform company for industrial brands, has launched its electronic data interchange platform to automate and streamline vendor order processing, inventory management, and forecasting.

Equity firm to acquire Zilliant

Zilliant Inc., a provider of B2B price optimization, price management and sales guidance software, has entered into an agreement to be acquired by Madison Dearborn Partners.

Steel King receives MHEDA award

Steel King Industries has earned the Most Valuable Supplier (MVS) Award for achievements in material handling 2021.

Manufacturing labor productivity declined 1.8 percent in Q3

Manufacturing sector labor productivity decreased 1.8 percent in the third quarter of 2021, as output increased 5.1 percent and hours worked increased 7.0 percent, the U.S. Bureau of Labor Statistics reported.

Fastenal opens new corporate office

Fastenal has moved its corporate headquarters to a 97,600 square foot corporate office in downtown Winona, Minnesota.

Savage receives BSA Lifetime Achievement Award

Doug Savage, chairman of Bearing Service Inc. in Livonia, Michigan, received BSA’s Lifetime Achievement Award at the Association’s 2021 Annual Convention.

NEFCO opens new fulfillment center

Construction supply distributor NEFCO opened a new primary fulfillment center in Virginia to support the professional contractor trades in the Mid-South.

Manufactured goods orders rose 1.0 percent in October

New orders for manufactured goods increased $5.1 billion or 1.0 percent in October to $522.1 billion.

Protective Industrial Products to acquire Bisley Workwear

Protective Industrial Products has agreed to acquire DJG Corporation Pty Ltd., the parent company of Bisley Workwear, headquartered near Sydney, Australia.

White Cap acquires Ram Tool

White Cap Supply Holdings has acquired Ram Tool Construction Supply Co., a construction supply distribution company headquartered in Birmingham, Alabama.

Manufacturing and construction jobs added in November

The nation's factories and construction sites both added employees during November, as total employment rose by 210,000 in the month.

SBP Holdings acquires Watts Steam Store

SBP Holdings acquired Watts Steam Store and subsidiaries on Dec. 1.

Manufacturing expanded in November

Manufacturing has expanded for the past 18 months, despite supply chain constraints that began during the pandemic.

October construction spending up 0.2 percent

Construction spending during October 2021 was estimated at a seasonally adjusted annual rate of $1,598.0 billion, 0.2 percent above the revised September estimate of $1,594.8 billion.

July cutting tool consumption up 25.5 percent

July 2021 U.S. cutting tool consumption totaled $162.3 million, down 5.7 percent from June's $172.1 million and up 25.5 percent when compared with the $129.4 million reported for July 2020.

Enerpac executives to depart company

Two Enerpac Tool Group Corp. executives will leave the company effective Dec. 10, as part of a company inititative to simplify its organizational structure.