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April 29, 2013

Back in March, Handy Hardware was a member-owned co-op intent on staying that way, even as it struggled through a reorganization under bankruptcy protection.

April 25, 2013

Handy Hardware Wholesale, the Houston-based co-op that filed for bankruptcy protection in January, announced that Littlejohn Management Holdings has agreed to acquire Handy.

April 4, 2013

Data on the use of the first large private health exchange for U.S. employers -- providing an online platform for active employees to purchase employer-subsidized coverage -- reveal that enrollees chose the health plan they felt offered the best value for themselves and their family and that they liked being able to select among multiple carriers.

March 5, 2013

Reuters is reporting that industrial distribution giant HD Supply is preparing for an IPO.

January 9, 2013

Portland, Maine-based BlueTarp Financial named Will Porter as its new chief financial officer.

Porter brings more than 18 years of experience working with both public and private companies. Most recently, he served as the CFO at Signiant, a global software provider focusing on the transferring of digital files. Previously, Porter was the VP finance at Phase Forward, a data management solutions provider. 

December 27, 2012

Richmond Electric Supply Company, Inc. has been sold to RESCO Acquisition, an investment group comprised of RESCO’s recently appointed CEO, Mike Bourn, and other private investors for an undisclosed sum.

Darryl Harman, who founded the company in 1983, was the seller. Matrix Capital Markets Group served as the financial adviser to RESCO Acquisitions.

November 28, 2012

Decisive action by employers in 2012 -- in particular, moving more employees into consumer-directed health plans (CDHPs) and beefing up health management programs -- was rewarded with the lowest average annual cost increase since 1997, according to HR consultancy Mercer's National Survey of Employer-Sponsored Health Plans, released in November 2012. The survey is conducted annually among U.S.

September 4, 2012

Daikin Industries,  a small presence in the U.S. air-conditioning market, has purchased Goodman Global for $3.7 billion, putting the Japanese firm just ahead of Carrier in the global HVAC business, according to an article in the Wall Street Journal.

Daikin is buying Goodman from a private equity firm named Hellman & Friedman, which paid $2.7 billion, plus the assumption of debt, to take the company private in 2007, the newspaper reported.

August 24, 2012

Disputes over dumping -- selling products in the U.S. market at prices below the cost of production or for less than what the products are sold in the home market -- are a major thorn in the side of companies wanting to do business internationally. The United States enacted the antidumping law to protect U.S. manufacturing companies from “unfair” imports, but the real impact of the law is to bankrupt legitimate U.S. companies and destroy U.S. jobs.

August 10, 2012

True Value Co. has signed a long-term agreement with Alliance Data Systems Corp. to create and manage turnkey private label, co-brand and commercial credit card programs.

The co-brand credit card program is Alliance Data's first Discover card product to utilize the Discover network and its millions of merchant locations. All credit card accounts will be consistent with Alliance Data's traditional credit quality standards.

July 23, 2012

Northern Tool + Equipment, a leading supplier of professional tools and industrial equipment, has entered into an agreement with Blue Tarp Financial that will provide commercial credit to the retailer’s contractor customers. BlueTarp will develop and implement a customized line of credit for Northern Tool under the private label NTE Net 30.

June 4, 2012

Figures released by the U.S. Commerce Department put overall construction spending during April 2012 at $820.7 billion, a 0.3% rise over the adjusted figures for construction spending in March 2012.

Spending on private construction was reported at $549.7 billion, 1.2% above the revised March estimate of $543.4 billion. Residential construction saw some of the biggest gains at $256.1 billion during April 2012, a 2.8% increase over the previous month. 

June 1, 2012

The Hillman Companies and its subsidiary, the Hillman Group, have announced that they have hired two executives to fill newly created positions at Hillman.

April 27, 2012

A decision by the U.S. Court of Appeals for the District of Columbia (D.C.) Circuit Court has delayed a new rule — set to take effect April 30 — that required workplaces to post right-to-organize notices.

To be in compliance with the new rule, private employers will have to post an 11-in.-by-17-in. notice regarding employee rights to unionize under the National Labor Relations Act. The requirement was set by the National Labor Relations Board (NLRB).

April 18, 2012

A decision by the U.S. Court of Appeals for the District of Columbia (D.C.) Circuit Court has delayed a new rule -- set to take effect April 30 -- that required workplaces to post right-to-organize notices.

To be in compliance with the new rule, private employers will have to post an 11-by-17-in. notice regarding employee rights to unionize under the National Labor Relations Act. The requirement was set by the National Labor Relations Board (NLRB).

April 3, 2012

A former co-founder of Building Industry Partners has formed a new venture that targets privately owned “middle market” LBM companies. Anchor Peabody LLC, founded by Jason Fraler, offers private equity capital, mergers and acquisitions and debt advisory to the building and construction industry. 

Joining the firm’s advisory board is Tony DeCarlo, the former CEO of Lumbermens Merchandising Corporation (LMC).

April 3, 2012

Spending on private residential construction barely budged in February 2012 compared to the previous month, rising 0.8% to an annual rate of $527.3 billion, according to figures released by the U.S. Commerce Dept. Nonresidential construction such as hotels, offices, schools and healthcare facilities rose 1.6% to $280.8 billion in February.

Spending on single-family homes in February 2012 declined 1.5% compared to January, but multifamily home construction rose 2.0%.

March 6, 2012

Overall construction spending dipped ever so slightly in January 2012, decreasing 0.1% from the previous month’s estimate of $827.6 billion, according to the U.S. Commerce Dept. In year-over-year figures, activity rose 7.1%, however.

January 12, 2012

Waypoint Real Estate Group, one of the nation's leading acquirers of distressed, single-family properties, and GI Partners, a mid-market private equity firm, have announced a partnership where they will acquire and then rent out more than $250 million in single-family homes. Ultimately, GI hopes to invest more than $1 billion in distressed and foreclosed homes over the next two years, with Waypoint managing the acquisitions and rental conversions.

December 2, 2011

Morrison Supply Co., the fourth-largest distributor of plumbing and HVAC supplies in the United States, has sold a majority share to private equity firm Advent International.

Founded in 1917, Morrison is now the largest distributor of plumbing supplies in the southwestern United States. The company has 77 branches and showrooms, located in Texas, New Mexico, Oklahoma, Louisiana, Arkansas and Kansas. Morrison has several lines of business, including plumbing, heating, ventilation & air conditioning (HVAC), industrial pipes, valves & fittings, oil & gas and waterworks.

December 2, 2011

The U.S. Bureau of Labor Statistics Friday morning reported the lowest national unemployment rate since March 2009. 

The November rate of 8.6% is down 0.4 percentage points from 9.0% in October. A year ago, the unemployment rate stood at 9.8%, according to the bureau.

The employment situation report showed that the private sector added 140,000 jobs, as employment rose in a number of service-providing industries. Government employment continued to trend down.

November 9, 2011

Bill Bollin, chairman and CEO of The Bostwick-Braun Co., was honored with a Lifetime of Achievement award on Nov. 3 by the PRO Group at its annual Executive Planning Conference in Naples, Fla.

Bollin joined the Toledo, Ohio-based Bostwick-Braun Co. in 1970, working in the warehouse and later moving on to shipping, office support, data processing, purchasing, management and all the way to his current position as chairman.

October 6, 2011

The Environmental Protection Agency (EPA) has recognized five organizations and one individual as the 2011 WaterSense Partners of the Year. The "Retailer Partner" is The Home Depot, and the "Manufacturer Partner" is Delta Faucet Co.

September 30, 2011

A new U.S. Forest Service study is urging U.S. builders to prioritize wood as a green building material due to its environmental benefits, low carbon emissions, and verifiable third-party rating system for “green” certification.

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