There was a renewed level of M&A announcements in September on both the private equity and strategic buyer sides. Office products dealers and other customers finally got some resolution in September to the disrupted merger announcement in April of Genuine Parts Company subsidiary S.P Richards and Essendant. Staples entered shortly after that definitive merger agreement with a sweetened offer, and concluded the ongoing negotiations with an all-cash tender offer for outstanding shares of Essendant on Sept. 24.
On the industrial products side, Brazos Private Equity Partners exited its founding investment in Blackhawk Industrial Distribution, 32nd on MDM’s 2018 Top Distributor list, with the sale to Snow Phipps Group. PE firm Supply Chain Equity also established a national platform in the waterproofing and sealant distribution sector with its investment in Coastal Construction Products.
More deals from September: