Back in May it was reported that nVent was soliciting bids for its Thermal management division. News releases shared that the division’s 2023 revenues were $595 million and that it’s EBITDA was approximately $150 million, for a 25% EBITDA margin. A short three months later, it was announced last week that nVent sold the division to Brookfield Asset Management. nVent Announces … [Read more...] about nVent Sells Raychem, Tracer, NuHeat and Pyrotenax
Market Analysis
ERP … The Heart of Your Business
There was a phrase years ago that is attributed to EF Hutton, which was a financial advisory firm that goes “when EF Hutton speaks, people listen.” The inference was that EF Hutton had a wide reach, and somewhat influence. The same goes for Epicor given how integral their Prophet 21 and Eclipse ERP platforms are for many HVACR distributors.So, when Frank Heenan, Global VP of … [Read more...] about ERP … The Heart of Your Business
Inventory Management a Foundation for Growth
As an HVACR distributor or manufacturer having strong local inventory near the end customer and where they work, is the most important factor for growth. As a long-time distributor, I know we all talk about "our people" as being the driving factor for growth, and that is true. We could not service our customers without our great people, but I have worked for distributors … [Read more...] about Inventory Management a Foundation for Growth
PHCC Connect – a Tradeshow Opportunity to Connect
Trade shows can be a great way to introduce contractors to new products, solicit voice of customer, initiate (or strengthen) relationships, network and maybe learn a thing or two. A phenom that has occurred much more so post-pandemic is distributors exhibiting at contractor tradeshows, especially regional shows. No longer is the business, "only in my backyard." Contractors … [Read more...] about PHCC Connect – a Tradeshow Opportunity to Connect
The world of customer segmentation in 2024
This past month, I have been going through old boxes of work material and coming across some foundational material on customer segmentation and pricing that I used as a distributor. I found in the archives my personal pricing Encyclopedia Britannia (the Complex) and the Texas A&M Industrial Distribution Customer Stratification Model (the Simple) and it made me think … [Read more...] about The world of customer segmentation in 2024
AI for Contractors … and the Channel
Manufacturers and distributors have lately been having many conversations about “technology”. But not in the conventional sense of the tools / software, more as it relates to functionality / capability for the future. They are asking "Does their IT department (which could be their ERP / software provider) have a tech roadmap that includes AI?" And sales and marketing management … [Read more...] about AI for Contractors … and the Channel
Improving Pricing and Inventory Knowledge with HARDI Certification
I believe one of the biggest challenges as distributor is managing pricing and inventory effectively because you can be handicapped by your own internal viewpoints. Your culture as a distributor is crucial to your success, but it can be limiting you in terms of new ideas and approaches in two crucial areas - Inventory and Pricing. I’ve been fortunate to work for six great … [Read more...] about Improving Pricing and Inventory Knowledge with HARDI Certification
