Latest In HD Supply
On HD Supply’s earnings call, CEO Joe DeAngelo and CFO Evan Levitt discussed the company’s M&A strategy following the divestiture of its Construction & Industrial – White Cap division. (Hint, it’s only a matter of time before the company is again acquisitive.)
M&A volume hasn’t completely returned to pre-COVID volume, but last month saw decent activity and some multibillion-dollar deals, including two in building materials & construction and one involving a distribution ERP provider.
The former HD Supply Waterworks Business announced the completion of its 11th acquisition since being formed in 2017 as an independent, private equity-backed distributor; this latest deal will expand Core & Main’s reach in New Jersey.
Now that HD Supply has shifted gears to sell White Cap to private equity firm Clayton, Dubilier and Rice for $2.9 billion, look for more shifts within the industrial distribution landscape.
HD Supply had originally planned to spin off the Construction & Industrial – White Cap business into a separate publicly traded company.