There were more than a dozen noteworthy acquisitions in distribution throughout June, with several companies citing a desire to expand their geographic footprint as a driver behind the business deals.
Notable transactions include foodservice equipment parts distributor Parts Town’s acquisition of 3Plenish, a parts inventory management app, signaling its commitment to a digital growth strategy.
“This tool [from 3Plenish] will allow our partners to load their inventories on to this capability, manage their inventory more effectively, improve their inventory turns, but also ensure that they always have the right amount of parts in stock to take care of their customer,” says Parts Town CEO Steve Snower.
Another significant transaction occurred in late June when Kaman Corporation announced it would sell its distribution segment to affiliates of Littlejohn & Co., LLC for $700 million. According to Neal J. Keating, chairman, Kaman president and CEO, the transaction represents an important milestone in our portfolio transformation. “Our strengthened balance sheet will better position the company to invest in and build our higher margin, higher growth aerospace and engineered products businesses to enhance shareholder value,” he says.
Follow the links below for more M&A activity from June.
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