May 2022 News

Allied Motion Technologies acquires FPH Group

Allied Motion Technologies has acquired FPH Group, a developer of electrical drive systems and light weighting technologies for ground-based vehicles in the defense industry.

White Cap partners with Toys for Tots

White Cap Supply Holdings announced a new U.S. corporate partnership with the nonprofit organization Toys for Tots to benefit their mission of distributing toys to children during the holiday season.

Grainger promotes more parents in the workplace

Grainger announced plans to team up with The Mom Project to welcome more women into the workforce by presenting Grainger employment opportunities on their digital talent marketplace.

RBC Bearings sales soar 123.9 percent

RBC Bearings reported fourth quarter fiscal 2022 net sales of $358.9 million increased 123.9 percent from $160.3 million last year.

Crestview Partners launches Convergix Automation Solutions

Private equity firm Crestview Partners announced the launch of portfolio company Convergix Automation Solutions, as part of its strategy to build a $1 billion global automation solutions company.

Columbus McKinnon Q4 sales up 36 percent

Columbus McKinnon reported record fourth-quarter revenue of $253 million, a 36 percent gain from $186 million in the same period last year.

Allied Motion Technologies acquires ThinGap

Allied Motion Technologies Inc. has completed the acquisition of ThinGap, a developer and manufacturer of high performance, zero cogging slotless motors for use in applications that require precise motion in a compact, yet high-torque-to-volume solutions.

Epicor introduces Epicor Automation Studio

Epicor has introduced Epicor Automation Studio, an integration Platform as a Service (iPaaS) solution embedded within Epicor Kinetic and Epicor Prophet 21.

Streamlight announces three promotions

Streamlight announced three sales and marketing appointments, designed to enhance the company’s position as a U.S. and global sales leader, and to further expand awareness of the Streamlight brand.

Milwaukee Tool starts construction of Mississippi facility

Milwaukee Tool has begun construction on its newest facility in Grenada County Mississippi.

PTDA adds four members

The Power Transmission Distributors Association (PTDA) welcomed four new member companies.

Airgas reveals new tagline

Airgas has launched a new campaign theme line “Fill Your Potential,”  intended to enhance its brand, inspire customers and associates, attract new customers and build brand loyalty.

Lawless Group acquires Distributors' Source of Florida

The Lawless Group (TLG) has acquired Distributors’ Source of Florida (DSOF) located in Longwood, Florida, effective June 1, 2022.

Air Systems founder Ellis to retire

Air Systems International founder and partner Ray Ellis plans to retire on May 27 after more than 31 years with the company.

Turtle & Hughes names two VPs

Turtle & Hughes has named Robert “R.J.” Carr vice president, outside sales, and Robert Del Guerico vice president, purchasing.

Industrial Service Solutions acquires San Antonio Armature Works

Industrial Service Solutions has acquired San Antonio Armature Works, an electromechanical service provider with nearly 100 years of experience serving industrial operations throughout South Texas. 

Milton Industries acquires Thunder Technologies

Chicago-based Milton Industries announced its acquisition of Thunder Technologies, a manufacturer of industrial hose, piping expansion joints, cut rubber and gasket products.

IWDC names senior accounting manager

The Independent Welding Distributors Cooperative announced that Tim Springer joined IWDC as senior accounting manager.

Apex Tool Group names North American Hand Tools president

Apex Tool Group has appointed William A. Burke III to senior vice president, and president of North American Hand Tools (NAHT).

Champion Cutting Tool celebrates 125 years

Champion Cutting Tool, a supplier of professional metal cutting tools, concrete tools, and abrasives products, is celebrating its 125th anniversary.

Sandvik Coromant adds to management team

Sandvik Coromant has appointed two new members to its management group.

Crosby Group and KITO to merge

The Crosby Group, a manufacturer of lifting and rigging equipment, and KITO Corporation, a material handling manufacturer of hoists and cranes, have entered into a definitive agreement to combine both businesses.

Dakota Supply Group names regional GM

Tom Podsiadlik has joined Dakota Supply Group (DSG) as the regional general manager in Michigan.

Darragh acquires Service Construction Supply

Darragh Company, a fourth-generation, family-owned commercial construction supply distributor, announced the asset purchase of Service Construction Supply (SCS) and its two Alabama locations in Birmingham and Madison, effective June 1, 2022.

Turner Supply acquires INPRO/Seal line from A-Team Industrial Products

Mobile, Alabama-based Turner Supply announced the acquisition of the INPRO/SEAL product line and territory from A-Team Industrial Products formerly located in Mobile.

Wright Tool celebrates 95 years

Wright is celebrating a milestone 95th anniversary in 2022, providing an opportunity for the company to reflect on its nearly century of accomplishments.

MRC Global Q1 sales climb 22 percent

MRC Global reported that its first-quarter sales of $742 million increased 22 percent from $609 million in the same quarter a year ago.

DXP Enterprises Q1 sales up 30.1 percent

DXP Enterprises said its first-quarter sales increased 30.1 percent to $319.4 million, compared to $245.6 million for the first quarter of 2021.

New South Construction terminates deal to buy American Contractor's Supply

New South Construction Supply has terminated its agreement to acquire American Contractor’s Supply, a distributor and supplier of tilt-up products based in Atlanta.

Enerpac Tool Group names CFO

Enerpac Tool Group Corp. announced that Anthony “Tony” Colucci will join the company as executive vice president and chief financial officer effective May 30, 2022.

NOW Inc. revenue soars 31 percent

NOW Inc. reported revenue of $473 million for the first quarter of 2022, a 31 percent increase from $361 million in the same period last year.

Manufacturing technology orders had strongest Q1 in over two decades

Monthly orders of manufacturing technology surpassed half a billion dollars for the first time in 2022, totaling $552.3 million in March, according to the latest U.S. Manufacturing Technology Orders Report.

Cutting tool consumption climbed in March

March 2022 U.S. cutting tool consumption totaled $196.4 million, up 17.2 percent from February’s $167.6 million and up 10.6 percent when compared with the $177.6 million reported for March 2021.

Big April job gains for manufacturing

Manufacturing added 55,000 jobs in April, as total employment rose by 428,000 during the month. The unemployment rate remained at 3.6 percent.

Global Industrial Q1 sales up 14.9 percent

Global Industrial said its first-quarter sales increased 14.9 percent to $288.6 million compared to $251.1 million last year.

Motion names Gates 2021 Supplier of the Year

Motion Industries named Gates Corporation its “2021 Supplier of the Year.”

Optimas Solutions names Schorr CIO

Optimas Solutions has appointed Paul Schorr to the position of chief information officer.

ISEA names new president

The International Safety Equipment Association (ISEA) announced that Cam Mackey will become president and chief executive officer on June 1.

Productivity declined 7.5 percent in Q1

Nonfarm business sector labor productivity decreased 7.5 percent in the first quarter of 2022, the U.S. Bureau of Labor Statistics reported today, as output decreased 2.4 percent and hours worked increased 5.5 percent.

Lawson Products becomes Distribution Solutions Group

Lawson Products announced its name change to Distribution Solutions Group Inc.

Wesco's sales climb 22 percent

Wesco International reported net sales were $4.9 billion for the first quarter of 2022 compared to $4.0 billion for the first quarter of 2021, an increase of 22.0 percent.

Fastenal sales rose 14.8 percent in April

Fastenal's April sales rose 14.8 percent to $570.8 million from $497.1 million in the same month last year.

M.K. Morse receives environmental award

The M. K. Morse Company was recognized for its proactive approach toward environmentalism and reduced waste at its global headquarters in Canton, Ohio.

DXP Enterprises acquires Cisco Air Systems

DXP Enterprises announced its acquisition of Cisco Air Systems, a distributor of air compressors and related products and services.

OTC Industrial Technologies acquires ePUMPS

OTC Industrial Technologies has acquired ePUMPS, a provider of pumps, mechanical seals, vacuum systems and compressors.

Construction spending inched higher in March

Construction spending during March 2022 was estimated at a seasonally adjusted annual rate of $1,730.5 billion, 0.1 percent above the revised February estimate of $1,728.6 billion.

Templin to become Lawless Group CEO

The Lawless Group has appointed Jack Templin as chief executive officer, effective May 9, 2022.

Higginbotham retires from Evergreen

The Evergreen Marketing Group board of directors has completed the leadership succession plan initiated in 2020 with the retirement of former CEO Kevin Higginbotham effective today.

Manufacturing index hits lowest mark since July 2020

Manufacturing is growing at a slower pace than recent months.

AD reports record Q1 results

AD announced first-quarter records in member sales, member purchases from AD supplier partners, and net distributions.

3M to expand Nebraska production plant

3M announced plans to expand its plant in Valley, Nebraska, in order to expand production of 3M respiratory and hearing protection products.