August 2022 M&A Roundup: Familiar Names Highlight Another Busy Month

MDM reported more than two-dozen mergers and acquisitions during the month of August. Read about them all here.
MDM reported more than two-dozen deals during the month, featuring companies such as Graybar, MSC Industrial Supply, Parts Town, SBP Holdings, US LBM and Winsupply.

If M&A activity during the month of August were turned into a summer Hollywood blockbuster, audiences would definitely recognize some familiar faces. MDM reported more than two-dozen deals during the month, featuring companies such as Graybar, MSC Industrial Supply, Parts Town, SBP Holdings, US LBM and Winsupply.

Other high-dollar activity included specialized polymer materials maker Avient agreeing to sell its distribution business for $950 million, as well as London-based RS Group acquiring Mexico’s largest Rockwell Automation distributor for $275 million.

For its part, engineering and manufacturing conglomerate Sandvik announced two acquisitions in the span of just one week: North Lake, Wisconsin-based Balax, Inc. — a supplier of carbide and HSS cut taps and roll forming taps — and Switzerland-based Sphinx Tools Ltd., a supplier of precision round tools and surgical cutting tools.

August M&A

Here are the M&A announcements — primarily involving distributors, but also manufacturers that sell through the channel — MDM covered during August (click the headline for more details):

  • ABB to Acquire Siemens’ NEMA Motors Unit — Robotics, automation and motors manufacturer ABB announced Aug. 10 that it has reached a deal to buy Siemens’ low voltage NEMA motors business for an undisclosed amount.
  • Avient to Sell Distribution Unit for $950M — Specialized polymer materials maker Avient Corporation announced Aug. 12 that it reached a deal to sell its distribution business to an affiliate of H.I.G. Capital for $950 million, pending regulatory approval.
  • Belt Power Sold from One Private Equity Firm to Another — Shorehill Capital LLC announced Aug. 23 that it sold Belt Power LLC to Platte River Equity in partnership with Belt Power’s existing management team. Shorehill will retain an ongoing minority equity stake in the business.
  • BPS Supply Group Acquires Producers Supply Company in PA — BPS Supply Group — a California-based distributor of pipes, valves and other industrial supplies — acquired Producers Supply Company in Pennsylvania.
  • Core & Main to Acquire Trumbull Industries’ Waterworks Unit — St. Louis-based Core & Main — a distributor of water, wastewater, storm drainage and fire protection products — announced an agreement to purchase Trumbull Industries’ waterworks division and an affiliated entity.
  • Germany’s EUKALIN Acquires Adhesives Specialists — Germany-based EUKALIN Corporation, a member of EUKALIN Group and a producer of adhesives for the paper and film converting industries, announced Aug. 8 that it acquired 100% of the assets of Adhesives Specialists, a like manufacturer based in Allentown, Pennsylvania.
  • Graybar Adds 2 Automation Distributors in New England — On Aug. 2, St. Louis-based electrical products distributor Graybar announced two new acquisitions, both in the area of industrial automation. The first acquisition was Walker Industrial Products, Inc., a distributor based in Newtown, Connecticut. The second acquisition of Southington, Connecticut-based New England Drives & Controls, Inc. was completed by Graybar’s subsidiary Shingle & Gibb Automation.
  • Harrington Industrial Plastics Acquires Crist Group in Northern CA — Fluid process solutions distributor Harrington Industrial Plastics of Chino, California, announced Aug. 24 that it acquired Crist Group from its owner, Paul Crist, for an undisclosed amount.
  • Holston Gases Acquires Alpine Gas in Georgia — Knoxville, Tennessee-based Holston Gases announced Aug. 24 that it acquired fellow gases and welding supplies distributor Alpine Gas based in Carrolton, Georgia.
  • Industrial Metal Supply Acquires Campbell Metal Supply in San Jose — Los Angeles-based Industrial Metal Supply announced Aug. 30 its expansion into Northern California with the acquisition of Campbell Metal Supply in San Jose.
  • Jergens Sells its JIS Distribution Unit to PT Solutions — Tooling components, fasteners and work holding equipment maker Jergens announced Aug. 22 that it has completed the sale of its JIS Distribution LLC subsidiary to diversified holding company PT Solutions for an undisclosed amount.
  • LDR Acquires Ohio Manufacturers — On Aug. 8, LDR Growth Partners announced it had acquired two U.S. Midwest heat exchanger manufacturers: Cincinnati Radiator Inc. and Ohio Heat Transfer Ltd.
  • LindFast Solutions Completes Star Acquisition — Blaine, Minnesota-based fasteners master distributor LindFast Solutions Group has completed its acquisition of Star Stainless Screw Company, the company announced in a news release.
  • Metabo to Merge HPT and Power Tool Brands — Koki Holdings America Ltd. announced the merger of its Metabo HPT and Metabo Power Tools brands in North America.
  • MSC Acquires Tower Fasteners; 3rd Deal in 14 Months — Metalworking and MRO supplies distributor MSC Industrial Supply announced Aug. 3 that it acquired Tower Fasteners, a Holtsville, New York-based distributor of OEM fasteners and components.
  • NSI Stays on Acquisition Trail, Adds HVAC Supplier SUPCO — Huntersville, North Carolina-based NSI Industries — a distributor of electrical, HVAC and building technology product solutions — announced Aug. 17 that it acquired Allen, New Jersey-based Sealed Unit Parts Co., Inc.
  • Offen Petroleum Acquires Wholesale Unit of G&S Oil Products — Offen Petroleum of Commerce City, Colorado, announced Aug. 23 that it completed the acquisition of the wholesale division of G&S Oil Products a Centennial, Colorado-based full-service wholesale and retail marketer of branded motor fuels under the Conoco, Phillips 66, Sinclair and Shell brands, as well as a supplier of unbranded fuels, with a footprint covering the greater Front Range of Colorado.
  • Parts Town Makes San Antonio Acquisition, Partners with Uber for Delivery — On Aug. 3, Addison, Illinois-based Parts Town said that it acquired Commercial Kitchen Parts & Service, a fellow distributor of OEM foodservice parts based in San Antonio, Texas and founded in 1946.
  • RS Group to Buy Mexico’s Largest Rockwell Distributor — Formerly known as Electrocomponents plc until rebranding this past March, London-based RS Group announced Aug. 8 that it acquired Risoul y Cia, S.A. de C.V. (Risoul), a family-owned distributor of industrial and automation products and service solutions in Mexico, for $275 million.
  • Sandvik Bolsters Tooling Unit, Acquires Taps Maker Balax in WI — Engineering and manufacturing conglomerate Sandvik announced Aug. 2 that it acquired North Lake, Wisconsin-based Balax, Inc., a supplier of carbide and HSS cut taps and roll forming taps, primarily within the general engineering and automotive segments.
  • Sandvik Coromant Adds Precision Round Tools Supplier in Switzerland — Just six days after announcing a similar acquisition in Wisconsin, machining and mining conglomerate Sandvik announced Aug. 9 that it acquired Switzerland-based Sphinx Tools Ltd., a supplier of precision round tools (micro tools) and surgical cutting tools.
  • SBP Holdings Acquires Fluid Power Distributor in Boise — SBP Holdings — a family of distribution companies in the fluid power and industrial rubber markets — announced Aug. 2 that it has completed a merger with Mattson Distribution Company, a supplier of pressure washing equipment with one location in Boise, Idaho.
  • Tencarva Machinery Acquires Flow Control Distributor Fischer Process Industries — Flow control and process equipment distributor Tencarva Machinery announced Aug. 22 that the company has acquired Fischer Process Industries, a distributor of pumps, valves and process equipment based in Loveland, Ohio.
  • US LBM Acquires Deco Truss — Buffalo Grove, Illinois-based building materials distributor US LBM acquired Florida truss manufacturer and supplier Deco Truss.
  • Winsupply Expands in Texas, Acquires First Source Electrical — Winsupply, a distributor of construction and industrial supplies, HVAC, plumbing, PVF and more, has purchased First Source Electrical in Houston, Texas.
  • Exiger Acquires Fellow Supply Chain SaaS Provider Supply Dynamics — Exiger, a supply chain risk management, third-party risk management and compliance company, gains a  supply chain collaboration platform for tracking, tracing and choreographing the purchase and supply of subcontracted products, parts, raw materials and ingredients.

Did we miss anything? Please send M&A announcements to editor@mdm.com. We also welcome suggestions for “Behind the Deal,” our occasional series that takes a deep dive into market-shifting moves in wholesale distribution.

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