It marks the first transaction for Motion since its landmark $1.2 billion buy of Kaman Distribution Group at the start of 2022.
The pumps and pumping equipment maker saw organic revenue growth slow to 4% in 4Q23, while full-year revenue increased 16% vs. 2022.
The Association for Manufacturing Technology said December’s figures outpoerformed “even the best of expectations.”
North American full-year sales reached nearly $8.9 billion for a 4.0% annual gain. See our in-depth breakdown of Rexel’s financials.
The restructuring includes a voluntary retirement offer and “rationalization and optimization” of certain DCs, stores and other facilities.
Overall 4Q and full year profit spiked on a deferred tax benefit, while sales continued low single-digit annual growth.
Meanwhile, gross margin at Resideo’s manufacturing business unit saw solid improvement during 4Q23.
Watsco’s 2023 follows two years of record-setting performances and faces softer comparative market conditions.
While 4Q volume fell in certain verticals, Wesco said it saw growth in industrial, utility, data center and network infrastructure.
The company saw a sharp deceleration in daily sales, hampered by weather impacts during the month.
It grows Singer’s footprint to 100+ locations and over 1,400 employees while boosting its on-site hose repair presence.
The figures reflected a broader industrial supply demand slowdown, though Grainger’s 4Q growth deceleration was less than most public firms that have reported so far. Get our full breakdown here.
