Though 2018 began with a flurry of M&A activity – with landscape-shifting deals in the industrial and building materials sectors – February was much slower in terms of deal volume and dollar value.
One notable deal saw two master distributors join forces when AIV Inc., Houston, TX, acquired Zenith Supply Co. Inc., Pittsburgh, PA. Terms were not disclosed.
Established in 1991, AIV is a master distributor of valves and actuators, selling through distribution only to the oil & gas, refining, chemical, petrochemical, power, pulp & paper and water treatment industries.
Zenith Supply is a master distributor of slow-moving, mission-critical industrial steel and special alloy valves manufactured by Velan Inc.
The deal makes strategic sense, according to Rocky Pontikes, managing director of Mesirow Financial’s Investment Banking group, which represented Zenith Supply in the deal. " … our efforts will help the strategic combination of Zenith and AIV to continue delivering exceptional service and quality to its customers for many years to come," Pontikes said.
Here are other key deals that occurred in February 2018: