November 7, 2023
AD is reporting that owner member sales through nine months of 2023 reached a new record of $57.6 billion, an increase of 3% across 14 divisions and three countries.
80 new companies joined the group through the first nine months of the year, half of which came via acquisition by existing members, the balance from other groups on their own. 35 of AD’s existing 866 members were sold to outside entities.
Owner member same-store sales grew 6% through the first nine months of 2023. By country, same-store sales in the U.S. were up 7%, while same-store for Canada and Mexico were up 6% in CAD and 1% in MXN, respectively. The AD divisions with the highest growth were Safety at 13%, and Electrical, Industrial and Bearings/PT at 9% each.
AD Chairman and CEO Bill Weisberg commented, “Our multi-industry/multi-country strategy, coupled with our investments in value added programs and services and positive collaboration with our supplier partners propel us forward.”