Reuters reported Feb. 7 that HD Supply is exploring a sale of its Waterworks unit, which could fetch
more than $2 billion following interest from private
equity firms. The report said such a deal would allow
HD Supply to pay down some of its $4.1 billion debt as
it positions its construction and facilities maintenance
businesses to benefit from President Trump’s emphasis
on infrastructure spending and tax reform.
Waterworks is the largest U.S. provider of water and
sewer products to contractors and municipalities. It distributes a complete line of water, sewer, fire protection
and storm drain products to serve both contractors and
municipalities in public works and private construction.
In December, HD Supply reported net sales for the
Waterworks unit increased $28 million in Q3 year-over-year, or 4 percent.
HD Supply has divested three businesses in the past
two years — it sold its Power Solutions unit to Anixter
in October of 2015 for $825 million; in January 2015 it
completed the sale of its Hardware Solutions segment
to Home Depot; and in April 2016 the company announced the sale of its Interior Solutions business to
Creative Touch Interiors.
HD Supply May Sell Waterworks Unit
France-based Sonepar announced a new executive struc-
ture in mid-February. Effective March 1, the group is now
managed by the CEO, CFO and COO, replacing its Sonepar
Executive Committee. Former Sonepar North American
region president Dave Gabriel is now the COO … Canada-
based Walter Surface Technologies has announced
the appointment of Marc-André Aubé as its president
and chief operating officer … Harrington Industrial
Plastics has opened a new sales location in El Paso, TX …
Dallas, TX-based Flowserve Corp. has appointed R. Scott
Rowe as its president and CEO, effective April 1. He succ-
eeds Mark Blinn, who previously announced his pending
retirement … Newton, IA-based Cline Tool has appointed
Mark Ritchie to the newly-created position of executive
vice president of national sales … Dayton, OH-based Win-
supply (No. 14 on ID’s Big 50 List) transitioned to a new
CEO, Roland Gordon, on Jan. 31. Gordon succeeded Jack
Johnston, who remains as company president.
MERGERS & ACQUISITIONS
Brookfield, WI-based Anderson Process, a supplier
of process equipment and services, announced in mid-February that it has acquired Werner-Todd Pump
Company, a long-standing pump distributor and service provider in the Indiana, Ohio and Kentucky regions
… Hickory, NC-based pressure-sensitive tape producer
Shurtape Technologies has acquired Syntac Coated
Products, a designer and manufacturer of specialty adhesive coated products based in New Hartford, CT … FCX
Performance (No. 31 on Big 50) announced Feb. 10 that
it has acquired
Monroe, MI-based Renew
Valve & Machine Co. and
& Gauge division. Since 1960, Renew Valve and Cleveland
Valve & Gauge have provided industrial valve repair to
the power, steel, refining, paper and chemical industries.
It marks FCX’s fourth acquisition in the last six months,
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