April M&A Roundup: Volume Slows but Market Remains Ripe for Deals

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April M&A Roundup: Volume Slows but Market Remains Ripe for Deals

M&A activity continued to slow in April, but the landscape remains conducive for accelerating consolidation.
Mergers and acquisitions among industrial distributors and manufacturers rebounded in December after slowing down in the latter half of November.

Based on the declining number of deals during the last two months, pandemic fatigue has perhaps taken hold of anyone pursuing M&A.

April was another slow month for activity, yet the market remains attractive for both buyers and sellers, according to the analysts that MDM has polled during the first few months of 2021.

A few deals did reach the finish line last month, of course. And some companies on MDM’s Top 150 Distributors list were acquisitive, including Hisco, F.W. Webb, NOW Inc., Watsco and Winsupply.

Speaking of Winsupply, MDM checked in last month with Monte Salsman, president of Winsupply Acquisitions Group, about his unique approach to deal-making during COVID-19. He said he wasn’t going to let the pandemic put a damper on seeing prospective targets and meeting them in person — he just wanted to do it safely.

“I consider the face-to-face to be a key part of acquisitions,” Salsman told MDM. “I love it and sellers do too. I think that while sellers, of course, want a fair price, they want to leave their business in the hands of somebody they trust.”

The efforts have paid off for Salsman and the Dayton, Ohio-based distributor. In early April, Winsupply announced it has acquired Allegheny Pipe & Supply, a Coraopolis, Pennsylvania-based distributor of industrial pipe, valves and fittings. It was the first deal that Salsman completed during his travels. He said more announcements could be coming soon.

Click here to read the full story about the road Salsman has taken to keep Winsupply’s M&A efforts in high gear.

April Deals

There were many more notable transactions, of course, and in case you missed anything, here are all the M&A announcements — primarily involving distributors but also manufacturers that sell through the channel — MDM covered during the previous month (click the hyperlinked headline for more details):

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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