July 2022 M&A Roundup: Momentum Carries into Year's Second Half - Modern Distribution Management

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July 2022 M&A Roundup: Momentum Carries into Year’s Second Half

Following a period that reenergized the pace of M&A activity, deals involving packaging companies and international entities kept a brisk pace.
Here are the M&A announcements — primarily involving distributors but also manufacturers that sell through the channel — MDM covered during July (click the headline for more details):

July mergers and acquisitions in the industrial distribution and manufacturing sectors continued a brisk pace set in the prior quarter, as MDM reported roughly two-dozen M&A deals for the month. Some big-dollar decisions were among those agreements in July — including 3M divesting its $8.6 billion Health Care business and Stanley Black & Decker completing the sale of most of its Security assets to Securitas AB for $3.2 billion.

However, deals involving packaging companies also rode the M&A wave during the month. Jan-San distributor Envoy Solutions announced the acquisition of Sunbelt Packaging, while Flexpak LLC acquired ACE Packaging, a distributor and supplier of packaging products. North of the border, Ontario, Canada-based Wolfpack Packaging Inc. announced its acquisition of Supreme Packaging.

Other international-related deals also were reported during the month. German hydraulics manufacturer Bosch Rexroth acquired fluid power distributor HydraForce, and Hillenbrand Inc. agreed to acquire Herbold Meckesheim GmbH, a recycling systems specialist  headquartered in Meckesheim, Germany.

July M&A

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

  • AD Completes Merger with Torbsa Limited — Independent distributor organization AD said it has completed its merger with Torbsa Limited, a building supplies buying group in Canada.
  • 3M to Spin Off $8.6B Health Care Unit, Posts Broad Declines — 3M is following suit of several other manufacturing conglomerates in divesting its Health Care business into a standalone entity, while reporting continued broad declines in sales and profit.
  • BlackHawk Industrial Stays Aggressive, Acquires 2 More Distributors — Tulsa, Oklahoma-based BlackHawk Industrial has acquired two companies that it says will accelerate growth in parts of Florida, Idaho and Montana.
  • Bosch Rexroth Acquires HydraForce — Lohr am Main, Germany-based mobile and industrial hydraulics manufacturer Bosch Rexroth, a subsidiary of Bosch, announced the acquisition of fluid power distributor HydraForce.
  • BradyIFS Makes Northeast Splash, Acquires Hill & Markes — Foodservice and JanSan distributor BradyIFS acquired Hill & Markes, a similar leading distribution company serving customers in New York and Vermont.
  • Continental Acquires WCCO Belting — Automotive solutions provider Continental announced that it acquired Wahpeton, North Dakota-based belting manufacturer WCCO Belting.
  • Envoy Solutions Acquires Sunbelt Packaging — Glenview, Illinois-based Jan-San distributor Envoy Solutions announced the acquisition of Sunbelt Packaging, a packaging materials distributor based in York, South Carolina.
  • Flexpak Acquires ACE Packaging — Woods Cross, Utah-based packaging supplies provider Flexpak LLC announced the acquisition of ACE Packaging, a distributor and supplier of packaging products headquartered in Phoenix.
  • Hillenbrand to Acquire Recycling Systems Provider in Germany — Batesville, Indiana-based Hillenbrand Inc. agreed to acquire Herbold Meckesheim GmbH. Herbold serves as a recycling systems specialist and is headquartered in Meckesheim, Germany.
  • Lawless Group Partners with Building Connections — The Lawless Group, a Dallas-based manufacturers’ representative to the industrial, commercial construction and safety markets, announced that it has acquired an interest in Building Connections, headquartered in Addison, Illinois.
  • Littelfuse Finalizes C&K Switches Deal — Chicago-based industrial technology manufacturing company Littelfuse has completed its acquisition of C&K Switches, a designer and manufacturer of electromechanical switches and interconnect solutions.
  • Milton Industries Acquires Casey Tools — Chicago-based pneumatic and hydraulic accessories manufacturer Milton Industries announced the acquisition of Casey Tools and Lock Technologies.
  • Munch’s Supply Adds 2 Acquisitions — Munch’s Supply, the HVAC division of Marcone, announced that it has acquired new companies: Wholesale Sheet Metal and Pile Protections Tops.
  • OTC Partners with Quincy Compressors — On July 20, Columbus, Ohio-based industrial equipment service provider OTC Industrial Technologies announced that it has partnered with Quincy Compressors, a manufacturer of reciprocating and rotary screw air compressors headquartered in Bay Minette, Alabama. Together, they will expand in two OTC locations in Phoenix and Las Vegas, according to an announcement.
  • Pentair Completes $1.6B Ice Maker Acquisition — Pentair plc, a London-based water treatment and sustainability provider, completed a $1.6 billion deal to acquire commercial ice maker Manitowoc Ice from Welbilt, Inc.
  • Rexel USA Acquires Horizon Solutions — Electrical distributor Rexel USA announced the acquisition of Rochester, New York-based Horizon Solutions.
  • Sandvik Acquires Nashville’s Peterson Tool Co. — Stockholm, Sweden-based industrial manufacturing conglomerate Sandvik announced the completion of the acquisition of custom tooling manufacturer Peterson Tool Company.
  • Stanley Black & Decker Completes $3.2B Security Sale — Stanley Black & Decker announced that it completed the previously announced sale of most of its Security assets to Securitas AB for $3.2 billion in cash.
  • US LBM to Acquire Foxworth-Galbraith Lumber Company — Buffalo Grove, Illinois-based US LBM reached a deal to acquire Foxworth-Galbraith Lumber Company, a Texas-based building products supplier to building professionals and homeowners in the Southwest U.S.
  • Valley Grinding & Manufacturing Acquires Quality Edge — Industrial blade manufacturer Valley Grinding & Manufacturing announced the acquisition of Quality Edge, a knife manufacturer with specialization in the food industry.
  • Wajax Subsidiary Acquires Powell Valve — Toronto-based Wajax announced that its subsidiary, western Canadian maintenance and technical services provider Tundra Process Solutions Ltd., acquired the valve business of Powell Canada Inc.
  • Winsupply Acquires Romar Supply — Dayton, Ohio-based distributor Winsupply Inc. completed its acquisition of both Romar Supply locations.
  • Wolfpack Packaging Acquires Supreme Packaging — Newmarket, Ontario, Canada-based Wolfpack Packaging Inc. announced its acquisition of Supreme Packaging.

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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