October M&A Roundup: Blockbuster Electrical Deal Highlights Busy Month

Rexel’s $456 million acquisition of Mayer Electric was just one of the notable transactions to reshape distribution last month.
Illustration of a m&a concept

The electrical sector last month saw a major shakeup with Rexel’s $456 million acquisition of Mayer Electric, but that wasn’t the only deal to turn heads in October.

During the period, more than a few Top Distributors made market-shifting moves, including Core & Main, Kaman Distribution, SRS Distribution, US LBM Holdings and Winsupply.

Steady activity has been a theme for distribution M&A all year, and there’s no sign it will slow down as the end of 2021 draws near. Deal volume may, in fact, increase across the space as financial buyers look to deploy their dry powder and strategics look to acquire growth rather than scratch and claw for organic revenue improvement.

MDM will have much more on the M&A landscape in the coming weeks with a Premium article analyzing the deal environment and our first M&A Quarterly Report — also exclusively for Premium members.

In the meantime, 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 headline for more details):

  • Ingersoll Rand to Acquire Air Dimensions for $70.5M — Ingersoll Rand Inc., a global provider of mission-critical flow creation and industrial solutions, will acquire Deerfield Beach, Florida-based Air Dimensions Inc. for $70.5 million.
  • Atlas Copco Acquires Indian Company — Swedish industrial manufacturer Atlas Copco has agreed to acquire HHV Pumps Pvt. Ltd, a provider of vacuum pumps in India.
  • Lawless Acquires Interest in Rolston Hogstrom — Dallas-based vendor and manufacturer rep The Lawless Group has acquired an interest in Rolston Hogstrom Inc., a sales agency headquartered in Chicago.
  • Core & Main to Acquire Catalone — St. Louis-based Core & Main Inc., a specialized distributor of water, wastewater, storm drainage and fire protection products, has entered into a definitive agreement to acquire Catalone Pipe & Supply Co., a full-service provider of waterworks products and services, and custom concrete catch basins, based in Penfield, Pennsylvania.
  • Atlas Copco Acquires Vacuum Distributor — Swedish industrial manufacturer Atlas Copco has acquired German distributor of vacuum equipment Eugen Theis GmbH.
  • Pentair Finalizes $255M Pleatco Acquisition — Pentair, a provider of water treatment and sustainable solutions, has completed its transaction to acquire Pleatco for $255 million in cash, subject to customary adjustments.
  • Platinum Equity Acquires Oregon Tool — Platinum Equity, a global investment firm with more than $25 billion in assets under management, completed its acquisition of Oregon Tool.
  • FDH Aero Acquires Stealth — Southern California-based FDH Aero, an aerospace and defense products distributor for aircraft production and aftermarket supply chains, has acquired Stealth Aerospace.
  • SRS Acquires Wimsatt Building Materials — McKinney, Texas-based building products distributor SRS Distribution Inc. has acquired Wimsatt Building Materials, a distributor of residential and commercial roofing, siding, windows, doors and other related products.
  • Kaman Distribution Group Acquires Integro Technologies — Kaman Distribution Group, a national distributor and solutions provider, has acquired Integro Technologies Corp.
  • Specialty Building Products to Acquire DW Distribution — Duluth, Georgia-based Specialty Building Products has agreed to acquire DW Distribution Inc., a distributor of building materials and millwork products in Texas, Oklahoma, Louisiana, Arkansas and New Mexico.
  • Heritage Pool Supply Group Acquires Pool Contractors Supply — McKinney, Texas-based Heritage Pool Supply Group Inc. has acquired Pool Contractors Supply, a Memphis-based wholesale distributor of pool and spa products.
  • SRS Acquires Marvic, Expands into Philadelphia Area — McKinney, Texas-based building products distributor SRS Distribution Inc. has acquired Marvic Supply Company, a residential roofing and construction distributor in Doylestown, Pennsylvania.
  • Core & Main Finalizes Acquisition of CES Industrial Piping — St. Louis-based Core & Main Inc. (NYSE: CNM), a specialized distributor of water, wastewater, storm drainage and fire protection products, has closed its previously announced acquisition of CES Industrial Piping Supply.
  • Rexel Agrees to Acquire Mayer Electric for $456 Million — International multichannel distributor Rexel (RXL:PA) has agreed to acquire Mayer Electric, a family-owned, Birmingham, Alabama-based distributor of electrical products and services, for $456 million. Read more about this acquisition in our Premium article, “Behind the Deal.
  • Fischer Process Industries Acquires Frakes-PumpWorx — Fischer Process Industries, Loveland, Ohio, has acquired primary pump and rotating equipment company Frakes-PumpWorx, Indianapolis. Financial terms of the deal weren’t disclosed.
  • US Machine & Tool Acquired By Equity Firm Sixeight — Tennessee-based growth equity firm Sixeight has acquired computer numerical control fabricator US Machine & Tool.
  • Winsupply Acquires HESCO Supply — Winsupply Inc., Dayton, Ohio, completed the acquisition of HESCO Supply, an Atlanta-based electrical and utility business located that serves North Georgia and the Southeast.
  • Individual Foodservice & Brady Industries Acquire Two Distributors — BradyIFS — the company that composes recently merged janitorial supply, equipment and foodservice distributors Brady Industries, Las Vegas, and Individual Foodservice, Bell, California — has acquired Fishman Supply Co., Petaluma, California, and Armstrong Paper Group, Santa Rosa, California.
  • US LBM Acquires Texas-Based Oldham Lumber — Building materials distributor US LBM, Buffalo Grove, Illinois, has acquired Oldham Lumber Co., a supplier that serves professional builders in North Texas, including the Dallas-Fort Worth Metroplex.
  • Heritage Pool Supply Group Acquires Quality Pool Supply — Heritage Pool Supply Group, a McKinney, Texas-based platform company of landscape distributor Heritage Landscape Supply Group Inc. (itself a subsidiary of SRS Distribution), has acquired Quality Pool Supply Co., a Clio, Michigan-based wholesale distributor of pool and spa products in the Midwest.
  • Graybar Canada Acquires Electro-mag — Electrical, communications and data networking products distributor Graybar Canada, Halifax, Nova Scotia, has completed its acquisition of Electro-mag Inc., including the JAD brand.
  • Olympic Steel Snags Shaw Stainless & Alloy — Cleveland-based Olympic Steel Inc. has acquired Shaw Stainless & Alloy. Olympic Steel said the all-cash purchase was immediately accretive.
  • Imperial Dade Acquires Mailender — Imperial Dade, which is based in Jersey City, New Jersey and is a national distributor of disposable foodservice and janitorial supplies, has acquired Cincinnati-based Mailender.

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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