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Article: Despite downturn, M&A activity continues.
- Article from:
- Industrial Distribution
- Article date:
- November 1, 2008
CopyrightCOPYRIGHT 2008 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff
With credit markets as tight as they've been in living memory and fears of a recession--or downright depression--foremost in most people's minds, it may come as a surprise that a number of distributors, especially in non-construction-related sectors, are continuing to acquire other companies.
For example, Lewis-Goetz and Co. Inc. acquired the Rubber Belting and Hose Inc. group for an undisclosed amount. The deal expands the Pittsburgh-based MRO distributor's reach into the Midwestern agricultural and industrial markets and boosts its product lines, president and CEO Jeff Crane said. Lewis-Goetz ranked 28th on INDUSTRIAL DISTRIBUTION's 2008 Big 50 ...