MDM’s May M&A Recap: New Recent High for Distributor Deal Activity - Modern Distribution Management

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MDM’s May M&A Recap: New Recent High for Distributor Deal Activity

After a few solid but unspectacular months for deal volume, May spiked to the most distribution deals tracked by MDM since at least the start of 2023.

May finished as the most active month of the year for distributor dealmaking activity, based on the volume of M&A news covered by MDM.

We posted news of 40 different transactions during the month — either pending or completed — that involve at least one distributor. That’s the most since at least the start of 2024 when MDM began counting distributor deals separately from our total M&A counts which also include manufacturers, associations and service providers. It was the most active distributor M&A month so far of 2024 by a longshot (29 in January).

For distribution deals, May snapped a plateau of 24-23-24 deals seen in February-March-April.

Overall, MDM posted 44 total M&A news items during May 2024.

The month was highlighted by Ferguson accounting for four of May’s 40 deals — announced simultaneously on May 23. Sonepar and Imperial Dade accounted for three each, while GMS and White Cap both had two apiece.

Find our rundown of May M&A news below, mostly in reverse chronological order and separated by distributors and manufacturers.

Distributors (40)

San Jose, CA-based industrial distributor Valin Corp. acquired Irvine, CA-based Dynamic Solutions to strengthen its motion control and automation product portfolio.

Specialty building products distributor GMS (Tucker, GA) acquired Pomona, CA-based wallboard and steel framing distributor Howard & Sons Building Materials.

MRO and automotive OEM parts distributor Lawson Products acquired S&S Automotive Inc., an automotive and industrial parts supplier based in Woodridge, IL about 30 miles south of Lawson’s Chicago headquarters.

Packaging solutions distributor TricorBraun will expand its Australia and New Zealand presence and packaging capabilities with the acquisition of two specialty packaging distributors: UniquePak and Alplas Products.

Zelienople, PA-based industrial and fluid power distributor Motion & Control Enterprises (MCE) marked its 11th acquisition since the start of 2023 with the addition of General Machinery Company in Birmingham, AL.

Imperial Dade’s Canada unit gained more scale with the acquisition of Wolfpack Packaging, a distributor of industrial products and janitorial supplies throughout Ontario.

Specialty building materials distributor US LBM acquired Better Built Truss, a manufacturer and supplier of structural roof and floor components in Northern California.

Electrical products distributor Sonepar completed its acquisitions of Madison Electric and Standard Electric, adding a combined 550+ associates across 36 locations and 2023 sales of about $400 million.

Marietta, GA-based conveyor system belting and component distributor Belt Power expanded in the Southwest with the acquisition of Phoenix-based Avtech Industrial Products.

France-based electrical supplies distributor Rexel is set to make a major addition to its U.S. telecommunications unit with the acquisition of Talley Inc., which has more than 300 employees, 11 warehouses and expected 2024 sales of about $360 million.

Insulation installer and specialty distributor TopBuild (Daytona Beach, FL) is set to acquire Insulation Works, a Wickes, AR-based provider of insulation services for residential and light commercial markets.

Industrial and metalworking supplies distributor BlackHawk Industrial acquired Richardson, TX-based Factory Outlet Tooling, a like manufacturing tool distributor.

Foodservice packaging supplies, industrial products and JanSan supplies distributor Imperial Dade shared acquired R.D. McMillen, a JanSan and industrial supplies distributor based in Decatur, IL.

Kodiak Building Partners strengthened its northern U.S. mountain presence with the acquisition of Valley Lumber & Rental, a distributor of hardware and building supplies to contractors and homeowners in Victor, ID and surrounding areas.

Pembroke, NH-based Abrasives & Tools of N.H. Inc. (ATNH) will merge with Gorham, ME-based Northern Tool Supply Co., which will rebrand as Northern Tool Supply, a division of ATNH.

Atlanta-based White Cap will acquire Michigan-based safety product and equipment distributor National Ladder & Scaffold Co.

PVF products distributor The Macomb Group (Sterling Heights, MI) acquired the operations of Woodhill Supply, a 66-year-old distributor of PVF supplies, bathroom and kitchen fixtures and HVAC equipment.

Ficodis — the Canadian-based industrial distribution group owned by France-based distributor Descours & Cabaud — acquired tool and fastener distributor Dorson to boost its service offering to Quebec’s residential and commercial construction sector.

Taylor, MI-based automotive paint and specialty coating distributor Painters Supply & Equipment Co. (PSE) acquired Maple Shade, NJ-based AeroCoat Source to further diversify its specialty coating business.

Garfield, NJ-based Industrial parts distributor HVH Industrial Solutions acquired Metro Industrial Supply to broaden its product range of power transmission and motion control parts in the New Jersey area.

MRO parts distribution Motion acquired Allied Circuits (Buffalo, NY), a designer, manufacturer and servicer of industrial control panels, electro-mechanical assemblies, robotic automation and integrated solutions. Allied serves western and upstate New York and into Ontario.

Lifting and rigging products distributor Bishop Lifting (Houston) acquired Oceanside Equipment, a like distributor of rigging and mooring products based in Dartmouth, Nova Scotia, with a second location in Mount Pearl, Newfoundland.

Specialty building products distributor GMS will expand its presence in southern Ontario, Canada with the acquisition of Yvon Building Supply and its affiliated companies for $144 million.

Foodservice packaging supplies, industrial products and JanSan supplies distributor Imperial Dade will surpass 10 acquisitions in 2024 with the addition of two packaging supplies distributors — Canpaco in Woodbridge, Ontario and 3G Packaging in Rochester, NY.

Fasteners and industrial supplies distributor AFC Industries acquired Meg Technologies Inc. (Huntington Beach, CA), a provider of military standard aerospace fasteners to OEMs, maintenance facilities, Department of Defense customers and other aerospace distributors.

Specialty fastener master distributor LindFast Solutions (Blaine, MN) entered a new adjacent product category with the addition of Merco Tape (Hillburn, NY), a long-standing master distributor of tape and related accessories.

Plumbing, PVF, HVACR and industrial supplies distributor Winsupply acquired Meter Service & Supply Co., gaining a single-location distributor of plumbing, pumps and waterworks supplies in Memphis, TN.

Middletown, CT-based U.S. Electrical Services (USESI) is set to boost its northeast presence with the acquisition of Askco Electric Supply — a single-location IMARK distributor in Glens Falls, NY.

Specialty construction supplies and safety products distributor White Cap acquired WWJ Rebar — a provider of customized reinforcing steel solutions based in Aiken, SC.

Ferguson announced May 23 that it inked four new acquisitions: Southwest Geo-Solutions, AVCO Supply, GAR Engineering and Safe Step Tubs of Minnesota.

Aluminum products supplier Eastern Metal Supply (Lake Worth, FL) acquired Eagle Metal Distributors (Orlando, FL) — a distributor of aluminum products, patio screens and other offerings used in the installation and repair of pool enclosures and screen rooms.

Cordatus Capital formed a group to specifically pursue acquisitions of packaged gas distributors, and made its first move with investment in Lubbock, TX-based independent packaged gas distributor B&J Welding Supply.

Flow control and process equipment distributor Tencarva Machinery acquired Tri-State Coating & Machine — a Salt Rock, WV-based distributor of specialized thermal coating services and related parts to the industrial market.

Sonepar subsidiary Northeast Electrical is set to acquire New England-based Electric Supply Center — a distributor with six branches between Massachusetts and New Hampshire.

Manufacturers (3)

Mission-critical material handling equipment maker Oshkosh Corporation is set to acquire Spain-based AUSACROP S.L., a privately-held like maker of wheeled dumpers, rough terrain forklifts and telehandlers.

Frankfurt, Germany-based KPS Capital Partners will acquire global electric motor and large drive system supplier Innomotics from Siemens AG for $3.8 billion.

To expand its extensive adhesive application expertise, adhesives maker H.B. Fuller (St. Paul, MN) acquired specialty adhesives and fastener locking and sealing solutions provider ND Industries (Detroit, MI).

Other (1)

San Francisco-based SugarCRM acquired sales-i in a move that both companies say will help B2B businesses maximize their revenue and profitability.

What’d We Miss?

Of course, the list above doesn’t encompass every M&A deal announced during May for relevant distributors and manufacturers. There will always be deals that weren’t on our radar. If you don’t see one here you think should be included, please let us know at

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