Interline Brands reports loss
Interline Brands said its first quarter sales increased 21.4% to $380.8 million, but merger related expenses resulted in a loss of $1.5 million.
Sales to institutional facilities customers, comprising 52% of sales, increased 50.3% for the quarter.
"Momentum behind our strategic growth initiatives continued during the quarter, which helped us achieve solid organic growth, particularly from sales to our institutional facilities customers. Inclusive of our recently completed acquisition of JanPak, growth within this end-market was over 50% for the quarter. As we continue to integrate JanPak, we look forward to realizing additional synergies and growth opportunities," said Michael J. Grebe, chairman and chief executive officer.
Interline, a distributor of MRO products to a diversified facilities maintenance customer base of institutional, multi-family housing and residential customers, was acquired by affiliates of GS Capital Partners LP and P2 Capital Partners in September 2012.
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