February 2022 M&A Roundup: Sonepar-Nautic Deal Closes Out Month - Modern Distribution Management

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February 2022 M&A Roundup: Sonepar-Nautic Deal Closes Out Month

M&A activity slowed somewhat in February, but the month wrapped up on an announcement that will likely draw eyes from across the distribution industry.
On July 19, Lohr am Main, Germany-based mobile and industrial hydraulics manufacturer Bosch Rexroth, a subsidiary of Bosch, announced the acquisition of fluid power distributor HydraForce.

The sheer number of merger-and-acquisition announcements in the distribution industry dropped off slightly in February, but there were still more than a few deals that will likely have impacts across multiple sectors.

Private equity firm Nautic Partners, LLC says it has reached a definitive agreement with the Sonepar Group to acquire Vallen Distribution, a company that provides indirect industrial supplies that cover maintenance, repair, operations and production-related needs. Financial details were not disclosed, though Nautic Managing Director Chris Pierce says the firm is looking to “lean on our prior experience with corporate carveouts to help Vallen successfully transition to a standalone organization.”

February M&A

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

  • American Equipment Acquires Kistler Crane & Hoist — Salt Lake City-based American Equipment Holdings has acquired Kistler Crane & Hoist, a Midwest provider of overhead crane systems and MRO field services.
  • Brady IFS Acquires SupplyitAll — Brady IFS, a foodservice, janitorial and sanitation distributor with headquarters in Las Vegas, Nevada, and Bell, California, acquired New Jersey-based paper company SupplyitAll.
  • Descartes Acquires NetCHB — Descartes Systems Group Inc., (TSX:DSG) (Nasdaq:DSGX) of Waterloo, Ontario, acquired NetCHB, a provider of customs filing solutions in the U.S.
  • Essity Acquires Legacy Converting — Philadelphia-based hygiene and health company Essity acquired wiping and cleaning company Legacy Converting, Inc.
  • Gryphon Investors Acquires Benoist Brothers — Middle-market private equity firm Gryphon Investors acquired Benoist Brothers Supply Co., a Midwest-based regional distributor of HVAC/R equipment, parts and supplies.
  • Jon-Don Acquires USA-CLEAN — Jon-Don, a supplier of commercial supplies, equipment, consumable and “know-how” to specialty contractors, acquired USA-CLEAN, a supplier of repair parts for professional floor care equipment.
  • Kele acquires A-Tech — Kele, a 12-location automation distributor that claims to be “the largest stocking distributor in the industry,” acquired A-Tech, Inc, an Oklahoma automation distributor.
  • Lester Sales Acquires Two in Pittsburgh — Lester Sales, a leading Midwest electrical manufacturer representative headquartered in Indianapolis, acquired Cardel-Criste and “certain assets” of Paolicelli/One Source Associates’ Western PA/West Virginia operations.
  • Relevant to Acquire Rawson/ICD — Houston-based distributor Relevant Industrial, LLC reached an agreement to acquire product-solutions company Rawson/ICD, Inc.
  • Resideo Acquires Arrow Wire & Cable — Resideo Technologies, Inc. (NYSE: REZI), a global provider of security solutions and commercial and residential security and audio-visual products, acquired privately held Arrow Wire & Cable.
  • SBP Holdings Sells Bishop Lifting Products — SBP Holdings, a provider of inspection and testing services, repairs and specialized rental activities, completed its sale of Houston-based Bishop Lifting Products, Inc., a group of value-added distributors of lifting products and specialty rental equipment.
  • Sonepar to Sell Vallen to Nautic Partners — Private equity firm Nautic Partners, LLC reached a deal with the Sonepar Group to acquire Vallen Distribution, a company that provides supply chain solutions and services.
  • Sysco Closes Acquisition of Coastal Companies — Foodservice distributor Sysco Corp. (NYSE: SYY) completed its acquisition of The Coastal Companies, a leading fresh produce distributor and value-added processor based in Laurel, Maryland.

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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