May M&A Roundup: 2Q Boost Continues with 37 Deals - Modern Distribution Management

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May M&A Roundup: 2Q Boost Continues with 37 Deals

As the calendar crawls toward summer, the pace of M&A activity among industrial distributors and manufacturers stays robust.

The first five months of 2023 have been a bit of a rollercoaster for mergers and acquisitions involving industrial distributors and manufacturers. Following a stellar 50 deals reported in January, the pace dropped to 29 in February and to just 22 in March. (Read more in the 1Q M&A Report from Houlihan Lokey and MDM.) We at MDM wondered if a drop in deals would coincide with a predicted economic and operational slowdown.

But as we’ve waited to see how the economy is affected on a macro level, the pace of M&A activity picked up as 2023’s second quarter started: MDM reported 40 deals during the month of April.

Distributors and manufacturers nearly hit that mark again in May. MDM reported news on 37 deals during this past month, including multiple deals for AFC Industries, DXP Enterprises and Imperial Dade. It will be interesting to see whether M&A momentum will continue into June and the year’s 2Q wraps up.

May M&A:

These are the M&A announcements — primarily involving distributors, but also manufacturers that sell through the channel — that MDM covered during May 2023 (click the headline for more details):

Click here to download and read MDM’s 1Q 2023 M&A Report.

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

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