Grainger Announces Agreement to Divest Fabory

Grainger (NYSE: GWW), the leading broad line supplier of maintenance, repair and operating (MRO) products serving businesses and institutions, today announced it has entered into a definitive agreement to sell Fabory Group (Fabory) to Torqx Capital Partners, a Dutch private equity company.

Grainger will continue offering broad line MRO products to customers in Western Europe through Cromwell and Zoro.

“I want to thank the Fabory team for their innovative and customer-focused approach,” said DG Macpherson, Chairman and CEO of Grainger. “I’m confident the acquisition by Torqx will better align with Fabory’s growth objectives. At the same time, Grainger remains focused on providing value to our customers, executing our strategy and delivering profitable growth through our high-touch and endless assortment offerings.”

Harmen Geerts, Managing Partner of Torqx, commented: “Based on our extensive experience and strong track record with technical distribution businesses, we see a strong fit between Fabory and Torqx. We can help the company to strengthen its position as leading fastener specialist in its core markets and achieve its full potential.”

The transaction is not subject to any financing condition but is subject to the standard regulatory approvals. This deal is expected to close in the coming months.
https://pressroom.grainger.com/news/press-release-details/2020/Grainger-Announces-Agreement-to-Divest-Fabory/default.aspx

Related Posts

‘Time Out’ Will Shutter Most Print Editions (mediapost.com)

Time Out will likely cease printing most of its 40 magazine editions based in cities worldwide. The company plans to continue printing the magazine in London, Madrid and Barcelona, Time Out Group CEO Julio Bruno told the Financial Times. However, the group is “unlikely” to resume printing in the US and Portugal, according to the report. Other territories are “under review by management.”

InnerWorkings Announces Second Quarter 2017 Results

• Gross revenue was $279.5 million in the second quarter, an increase of 4% compared with $269.2 million in the second quarter of 2016. Year-to-date gross revenue was $546.9 million, a 1% increase compared with $540.3 million in the prior period. • Gross profit (net revenue) was a record $70.2 million, or 25.1% of gross revenue in the second quarter, an 8% increase compared to $65.1 million, or 24.2% of gross revenue, in the same period of last year. Year-to-date gross profit (net revenue) was $134.5 million, or 24.6% of gross revenue, an increase of 6% compared to the prior-year period. • Net income was $4.5 million or $0.08 per diluted share in the second quarter, compared to a net loss of $2.3 million or $0.04 per share in the second quarter of 2016. Year-to-date net income was $10.0 million or $0.18 per diluted share, compared to a loss of $5.0 million or $0.09 per diluted share in the same period of 2016. Click Read More below for additional detail.

Amazon.com Announces Second Quarter Results

*Operating cash flow decreased 40% to $35.6 billion for the trailing twelve months, compared with $59.3 billion for the trailing twelve months ended June 30, 2021. *Free cash flow decreased to an outflow of $23.5 billion for the trailing twelve months, compared with an inflow of $12.1 billion for the trailing twelve months ended June 30, 2021. *Net sales increased 7% to $121.2 billion in the second quarter, compared with $113.1 billion in second quarter 2021. Excluding the $3.6 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 10% compared with second quarter 2021. *Operating income decreased to $3.3 billion in the second quarter, compared with $7.7 billion in second quarter 2021. *Net loss was $2.0 billion in the second quarter, or $0.20 per diluted share, compared with net income of $7.8 billion, or $0.76 per diluted share, in second quarter 2021. Second quarter 2022 net loss includes a pre-tax valuation loss of $3.9 billion included in non-operating expense from our common stock investment in Rivian Automotive, Inc.
Back To Top
×Close search
Search