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Though a few large distributors made moves in July, M&A activity in industrial markets was weighted toward manufacturers. Textron, Sandvik, Dana and Timken all had deals during the month. Fluid power distributor SunSource also continued down an aggressive M&A path during July with the acquisition of United Distribution Group.
In Europe, the next round of divestitures in the blockbuster $70-billion Praxair-Linde merger are in play as Praxair announced it will sell its European businesses to Taiyo Nippon Sanso Corporation for EUR 5 billion in cash (US$5.6 billion), subject to customary adjustments at closing. The businesses generated annual sales of approximately EUR 1.3 billion (US$1.5 billion) in 2017.
In the U.S., SunSource Holdings, Inc., Addison, IL, a fluid power and motion control distributor in the U.S. and Canada, is adding The United Distribution Group to a growing platform for Sunsource, which was acquired by private equity firm Clayton, Dubilier & Rice last year. SunSource earlier this year acquired Ryan Herco Flow Solutions from Greenbriar Equity Group.
And there was consolidation activity in Minnesota (Mars Supply) and New Jersey (Madsen Group) as those independent MRO distributors added specialty capability to their respective portfolios.
Here are the deals MDM reported on in July:
- Textron Completes Sale of Tools Business to Emerson
- Sandvik Acquires Inrock
- Sandvik Completes Acquisition of Metrologic Group
- Timken to Acquire Cone Drive
- Timken Acquires Rollon Group
- Dana Incorporated to Purchase Oerlikon Group Drive System Segment
- SKF to Divest Linear and Actuation Technology Business
- Praxair To Sell European Businesses
- SunSource to Acquire UDG
- Barnes Group Acquires Industrial Gas Springs
- TTI, Inc. Acquires Compona AG
- TTI, Inc. to Acquire RFMW Ltd
- Beacon Roofing Supply Acquires Atlas Supply
- ABC Supply Acquires Alliance Wholesale
- Distribution International Subsidiary Acquires Canadian Supplier
- SRS Buys Wholesale Division of Interstate Building Materials
- Wilcox-Slidders Joins Madsen Group’s Tool Krib Supply
- Mars Supply Acquires TC Clipper
- Bolts & Nuts Merges with Technical Threads