May 2021 News

LineDrive partners with Mauve Capital

LineDrive and Mauve Capital jointly announced the successful completion of a new partnership, effective immediately.

PTDA moves Industry Summit to Georgia

The Power Transmission Distributors Association (PTDA) will hold its 2021 Industry Summit at the Atlanta Marriott Marquis in Atlanta, Oct. 20-23, 2021.

AD announces conversion campaign winners

AD announced the winners of its annual conversion campaign that encouragse AD members to convert business to AD supplier partners.

Distribution One celebrates 25th anniversary

Software provider Distribution One is celebrating its 25th anniversary as a developer of Enterprise Resource Planning (ERP) software.

Columbus McKinnon sales decline 1.7 percent

Despite stronger sales outside of the United States, Columbus McKinnon reported that its fourth quarter sales declined by 1.7 percent from the same period last year.

Pinnacle Tool & Supply acquires Industrial Metalworking Supply

Toledo, Ohio-based Pinnacle Tool & Supply has acquired Industrial Metalworking Supply of Brecksville, Ohio.

Global Industrial launches Knowledge Center

Global Industrial announced the launch of The Knowledge Center, a digital content rich resource designed to empower customers with expert advice.

Wright Tool names new regional sales manager

Wright Tool has promoted Blake Wenter to regional sales manager.

Utah Award honors Industrial Supply VP Chad Littlefield

Chad Littlefield, vice president of Human Resources and People Solutions at Industrial Supply Company, will be honored as one of Utah’s top human resources professionals at this year’s HR Achievement Awards.

Martin Supply acquires Parker Industrial Safety

Martin Supply, a subsidiary of Martin Inc., announced the acquisition of Parker Industrial Safety in Avilla, Indiana, near Fort Wayne.

Chicago Fed National Activity Index moderated in April

The Chicago Fed National Activity Index declined to +0.24 in April from +1.71 in March.

Kennametal names president of Metal Cutting group

Kennametal Inc. announced that effective June 14, Sanjay Chowbey will join the company as president, Metal Cutting.

RBC Bearings 4Q sales declined 13.7 percent

RBC Bearings reported net sales for the fourth quarter of fiscal 2021 were $160.3 million, a decrease of 13.7 percent from $185.8 million in the fourth quarter of fiscal 2020.

Franklin Electric acquires New Aqua

Franklin Electric Co. has acquired New Aqua, headquartered in Indianapolis, in an all-cash transaction valued at $150 million.

PFERD North America names new president

PFERD North America announced that Rafael Astacio has been appointed as the new PFERD North America president.

Sonepar names West Region president

Sonepar USA announced that Dana Mouritzen has been named president of the West Region following 50-year industry veteran Jon Mitchell.

CEOs named for TTS North America and Festool USA division

Matt Howard has been promoted to CEO of TTS Tooltechnic Systems North America and its subsidiaries including SawStop, Festool USA, and Festool Canada.

Home Depot Q1 sales climb 32.7 percent

The Home Depot reported sales of $37.5 billion for the first quarter of fiscal 2021, an increase of 32.7 percent from $28.3 billion in the first quarter of fiscal 2020.

Crosby Group acquires Speedbinders

The Crosby Group has acquired, a designer and manufacturer of load binders for heavy-duty load securement.

April industrial production increased 0.7 percent

Total industrial production increased 0.7 percent in April.

Blue Sea Capital invests in Abrasive Technology

Abrasive Technology, a Lewis Center, Ohio, manufacturer of superabrasive grinding wheels and tools, announced an investment by Blue Sea Capital.

Atlas Copco acquires MidState Air Compressor

Atlas Copco has acquired MidState Air Compressor, a distributor of compressors and provider of service that covers Connecticut, Rhode Island, and Massachusetts.

Tofino Software joins Amazon Business Partner Network

E-procurement and MRO management software company Tofino Software announced that the company has joined the Amazon Business Partner Network.

NOW Inc. reports Q1 loss

NOW Inc. posted a net loss of $10 million for the first quarter of 2021, as sales declined by 40.2 percent to $361 million compared to $604 million in the same quarter last year.

DXP Enterprises sales decline 18.4 percent

DXP Enterprises said its first-quarter sales fell by 18.4 percent to $245.6 million, compared to $301.0 million for the first quarter of 2020.

Factory employment declined in April

Manufacturing employment edged down in April, declining by 18,000 jobs, following gains of 54,000 in March and 35,000 in February.

WESCO International sales climb 105.3 percent

WESCO International reported net sales were $4.0 billion for the first quarter of 2021 compared to $2.0 billion for the first quarter of 2020, an increase of 105.3 percent due to the merger with Anixter that was completed in June 2020.

Fastenal's April sales up 1.2 percent

Fastenal posted sales of $497.1 million in April, a 1.2 percent gain from $491.5 million in the same month last year.

AD Bearings & Power Transmission Division virtual meeting

AD hosted its 2021 Bearings & Power Transmission Division Virtual North American Meeting, from March 29 – April 1.

Systemax Q1 sales climb 10.5 percent

Systemax reported first-quarter sales increased 10.5 percent to $251.1 million compared to $227.3 million last year.

Wooster Products adds Midwest rep

Wooster Products has appointed Arcspec as its new representative to serve the states of Illinois, Wisconsin and northwest Indiana.

DXP Enterprises acquires Carter & Verplanck

DXP Enterprises has completed the acquisition of Carter & Verplanck Inc, a distributor of products and services exclusively focused on serving the water and wastewater markets.

Kimball Midwest wins Top Workplace Award

Columbus, Ohio-based Kimball Midwest has been named a Top Workplace for 2021 by Columbus CEO magazine.

Winsupply names Vendor of the Year winners

Winsupply has named its Vendor of the Year winners for 2020.

Drillco names director of sales

Drillco Cutting Tools Inc., Baton Rouge, Louisiana, announced the appointment of Tracy Miller as director of sales, Western USA.

Manufacturing growth slowed in April

Manufacturing grew at a slower pace in April than in March.

Construction spending rose in March

Construction spending during March 2021 was estimated at a seasonally adjusted annual rate of $1,513.1 billion, 0.2 percent above the revised February estimate of $1,509.9 billion.

AD member sales up 14 percent

AD is reporting member sales in the first quarter of 2021 were $12.7 billion, an increase of 14 pecent across its 13 divisions and three countries.

RitterTech opening ParkerStore in Chicago area

RitterTech will hold a "soft opening" today of its new ParkerStore location in West Chicago, Illinois.