Affiliated Distributors (AD), Wayne, Pa., reported 8% growth across all of its divisions in the third quarter. Total sales for the first three quarters of the year were $23 billion. All AD Divisions are projected to accomplish another record-breaking year in 2014 by exceeding $30 billion in sales.
By Division, AD member third quarter sales grew as follows: U.S. Electrical up 13%; Canadian Electrical up 14%, Industrial up 2%; Plumbing up 13%; PVF was flat in a down market, HVAC up 7%; and Building Materials up 18% year-over-year. In the first three quarters of 2014, AD members hired 2,221 new employees, opened over 71 new locations and made 15 acquisitions.
“AD continues to operate efficiently by leveraging our economies of scale and utilizing our advanced treasury function,” stated Bill Weisberg, AD’s chairman and CEO. “The investment we earn, in spite of the current short-term interest rate environment, not only covers all of the organization expenses, it enables us to invest in innovative programs and services.”