3Q 2023 M&A Report: Period Displays 2023's Up-and-Down Pace - Modern Distribution Management

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3Q 2023 M&A Report: Period Displays 2023’s Up-and-Down Pace

Domestic M&A activity across all industries was down again, continuing a sequential downward trend that started during the last three months of 2021.
Applied M&A blog

The pace of mergers and acquisitions among industrial distributors and manufacturers relevant to MDM has taken a rollercoaster-like route during the first nine months of the year. The year’s third quarter again was no exception, as we saw the numbers slow in July (23 reported deals) before rising again in August (40 reported deals, second only to January’s 50). The total for September settled back down to 24 as the quarter wrapped up. (Read more in MDM’s 3Q 2023 M&A Report.)

As we’ve asked multiple times throughout the year: Do metrics such as the pace of M&A reflect uncertainty in industrial markets, even if a predicted slowdown has yet to arrive with obvious, longer-term negative effects? We’ll see what the final quarter of the year brings.

During the July-September window that ended last month, many companies we closely follow announced new acquisitions. We explored key earnings takeaways from plumbing, HVAC, PVF and industrial supplies company Ferguson — as well the distributor’s trio of acquisitions that added approximately $450 million in revenue.

There were several other deals with relatively high price tags. Packaging, facility solutions and print products distributor Veritiv Corporation announced that it had reached a deal with the private investment firm in which an affiliate of CD&R will acquire Veritiv for approximately $2.3 billion.

In addition, according to data compiled by Houlihan Lokey, domestic M&A activity across all industries was down again in 3Q 2023, continuing a sequential downward trend that started during the last three months of 2021.

MDM Premium members can download and read our 3Q 2023 M&A Report here.

Last but not least, don’t forget to attend MDM’s upcoming Data Analytics Summit, which will be held between 10 a.m. and 2 p.m. on Dec. 6. This virtual summit is an opportunity to dive deep into the world of data and analytics, learning from experts and pioneers in the field. We hope to see you there!


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