September 2017 M&A Roundup: Core & Main Off to Fast M&A Start

Former HD Supply Waterworks quickly makes inaugural acquisition.

Just two months after being sold to private equity and a month after rebranding to Core & Main LP, the company formerly known as HD Supply Waterworks made its first acquisition with the purchase of Minnesota Pipe & Equipment.

The St. Louis, MO-based company said the purchase will strengthen Core & Main’s position in the Minnesota waterworks distribution industry. It’s a fast M&A start for Core & Main, which HD Supply agreed to sell to private equity firm Clayton, Dubilier & Rice for $2.5 billion in June.

Core & Main’s private equity ownership and immediate acquisition is one of many recent examples of distributors and private equity firms aligning to add scale and grow revenue.

This strategy will the topic of MDM’s next webcast, Finding Your Acquisition Ally, in which T.J. Monico of KeyBanc Capital Markets and Don Bramley of Audax Group will share insights for finding the right partner and pursuing profitable M&A deals.

Core & Main’s inaugural acquisition highlighted an otherwise tepid month for distribution M&A, but it wasn’t the only deal in the building materials & construction space.

CanWel Building Materials Group Ltd., Vancouver, British Columbia, agreed to acquire Honsador Building Products group of companies from Grey Mountain Partners for $80 million.

And building materials distributor U.S. Lumber Group LLC, Atlanta, GA, agreed to purchase NILCO, Hartville, OH. The acquisition will add 12 NILCO locations to U.S. Lumber’s existing nine facilities and expand the company’s reach in the Midwest.

Here are other key deals that occurred in September 2017:

Genuine Parts Co. to Acquire Alliance Automotive Group

Univar Acquires Tagma Brasil

Bearing and Drive Solutions Merges with Brown Transmission and Bearing

Stoneway Electric Acquires H.D. Campbell Co.

Air Liquide Acquires Japanese Health Care Business

CanWel to Acquire Honsador Building Products from Grey Mountain Partners

Atlas Copco Acquires C.H. Spencer & Co.

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