RISI acquires Random Lengths
The $18.2 million cash deal combines two of the industry’s leading lumber pricing providers.
RISI, Inc., an information provider for the global forest products industry, reported that its parent company – Euromoney Institutional Investor PLC – has acquired Random Lengths, a leading price reporting agency for the wood products industry.
Euromoney will pay $18.2 million in cash for Random Lengths, of which $2 million is deferred for up to 18 months. Pro forma EBITDA for the financial year 2018 is expected to be $1.1 million, RISI said in a prepared statement.
Random Lengths, based in Eugene, Ore., provides price assessments and market reporting for the global wood products industry, with a core focus on the North American lumber and panels markets, publishing over 1,500 prices each week. Founded in 1944, Random Lengths is expected compliment and expand RISI’s existing wood products price reporting, Euromoney said.
“Random Lengths is a leading source for prices in the lumber and panel markets, with a rich history of delivering trusted, unbiased insights,” said Daniel Klein, CEO of RISI. “We are excited for customers and the market to receive the most comprehensive offering of pricing data and information across the entire forest products supply chain, through the combination of RISI and Random Lengths, and as a core part of Euromoney’s cross-commodity PRA division.”
“Combining Random Lengths with RISI and Euromoney’s commodities price reporting organization is an exciting step,” said Jon Anderson, president of Random Lengths. “It enables Random Lengths’ customers and the market to continue relying on our price guides and market information, while enhancing Random Lengths’ business with RISI’s and Euromoney’s extensive resources and worldwide footprint.”
RISI’s Global Head of Price Reporting, Matt Graves, will relocate to Eugene to lead the integration, working directly with Jon Anderson and the Random Lengths team. Both organizations plan to continue their market reporting and publishing schedules as normal, Boston-based RISI said.
Each week HBS Dealer publishes the RISI Crow’s Construction Material Cost Index (CMCI), which provides the latest cost for lumber and panel products.
New Milwaukee Tool M18 FUEL Backpack Vacuum
The vacuum includes a PowerState Brushless Motor and cyclonic design to deliver powerful suction.
Milwaukee Tool has expanded its offerings in the jobsite clean-up category with the introduction of the new M18 FUEL 3-in-1 Backpack Vacuum.
The vacuum includes a PowerState Brushless Motor and cyclonic design to deliver powerful suction while remaining up to three-times quieter than traditional jobsite vacuums. A removeable harness, integrated hook, and handle allow users to wear, hang, and carry the vacuum anywhere.
“During our jobsite research, we found that users are still relying on bulky, cumbersome, and corded vacuums to complete almost every clean-up task, regardless of the environment. In many situations, they are limited by the cord and sheer size of the vacuums, highlighting the need for a vacuum that has the versatility to go anywhere on the jobsite to clean up a wide range of materials quickly and efficiently,” said David Mobarak, Product Manager for Milwaukee Tool. “It is from this research that the M18 FUEL 3-in-1 Backpack Vacuum was born. This new solution combines our advanced cordless technology with an adaptable design, providing users with a vacuum that can tackle a wide array of clean-up tasks.”
The vacuum’s PowerState Brushless Motor and cyclonic construction deliver powerful air performance at 55 CFM, 76” of water lift, and 159 air watts to clean up drywall dust, concrete dust, wood/metal shavings and other common jobsite debris quicker and more efficiently.
Whether doing spot, area, or final cleanups, the vacuum can go anywhere on any jobsite. At only 76 dBA, the vacuum is up to 3X quieter than a traditional jobsite vacuum, allowing for comfortable operation, even in occupied spaces.
A quick-release removable harness, integrated canister hook, and handle allow users to wear, hang, and carry the product for ultimate cleaning versatility. For added convenience, the debris bin can be emptied in seconds, at the touch of button, reducing downtime and allowing users to get back to the tasks at hand.
Powered by an M18 RedLithium HD9.0 battery pack, the vacuum has a run-time of up to 25 minutes on High mode, and more than 40 minutes on Low.
HBSDealer Stock Watch: Thursday’s Ticker
|Hardware and building supply stocks score more gains than losses on Thursday. The day’s biggest gainer was TSCO, up 1.9%.|
|BLDR (Builders FS)||17.62||N.C.|
|BMCH (BMC Stock)||22.00||N.C.|
|CENT (Central Garden)||43.00||-0.51%|
|DE (Deere & Co.)||142.09||+0.18%|
|HD (Home Depot)||195.66||-0.64%|
|LL (Lumber Liquidators)||19.20||+0.01%|
|SMG (Scotts Miracle-Gro)||76.67||+0.01%|
|TSCO (Tractor Supply)||78.65||+1.86%|
|UFPI (Universal Forest)||36.40||+0.44%|