Bosch, Simpson Strong-Tie form alliance
Robert Bosch Power Tool Corp. and Simpson Strong-Tie Co. have signed an agreement to jointly pursue sales, marketing and product development opportunities in the concrete construction market, according to a joint announcement.
The alliance seeks to bring to market a complete Bosch/Simpson Strong-Tie installation system, including adhesive and mechanical anchors, demolition and rotary hammers, and accessories. The new venture will also provide joint jobsite training to installers and offer distribution partners a variety of sales and marketing benefits, giving them access to the broadest commercial and residential product portfolio in the concrete construction industry.
“The alliance between our two companies will give our distribution partners a better way to compete against direct sellers,” said Terry Kingsfather, president, Simpson Strong-Tie. “By combining Bosch’s expertise in power tools and accessory systems with the Simpson Strong-Tie focus on providing specified, value-engineered anchoring solutions, we can drive quality business to our partners and provide customers with even better solutions.”
Industry Dashboard for Oct. 22, 2012
The housing starts dials blasted ahead of last month and last year, but existing-home sales actually slipped. Elsewhere on the Dashboard, the average price for a gallon of gas fell 11 cents in one week.
Epicor completes acquisition
Epicor Software Corp., the business software solutions provider, has announced its preliminary financial results for fiscal 2012 and the completion of its acquisition of Solarsoft Business Systems.
Based on its preliminary financial data, the Dublin, Calif.-based company expects total revenue for fiscal 2012 to be in the range of $866 million to $870 million, compared with fiscal 2011 pro forma total revenue of $847 million, an estimated 2% to 3% increase from fiscal 2011. Adjusted EBITDA is expected to be in the range of $220 million to $222 million for fiscal 2012, representing a 14% increase over the prior year, with pro forma adjusted EBITDA of $194 million, which was driven by increased revenue, as well as synergies achieved from the 2011 merger of Activant and Epicor.
Epicor expects a net loss for fiscal year 2012, which ended Sept. 30, to range from $36 million to $42 million as compared with a net loss of $56 million in fiscal 2011.
Epicor has completed its acquisition of Solarsoft Business Systems for $155 million, which was funded with cash on hand and a draw on an existing revolving credit facility of $69 million. The purchase of Solarsoft brings with it Progressive Solutions, a leading provider of enterprise resource planning (ERP) software for the LBM industry. Solarsoft acquired Progressive Solutions in June 2012.