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ADS will rebrand following the acquisition, according to a news release announcing the deal.
The Canadian industrial distributor says it continued to see overall strength in its backlog, which increased to more than $558 million.
The Sonepar company also said its 500,000-square-foot Central Distribution Center in Katy, Texas, will open by the end of the year.
The research giant and consulting firm says the deal will help deepen supply chain transformation capabilities.
The all-cash transaction will be funded through Greif's existing credit facility and is expected to close by the end of the calendar year
Third-quarter sales reached $904 million, a 7% sequential increase from the second quarter of 2022 and a 32% improvement over 3Q 2021.
The Center of Excellence aims to help the fastener manufacturer and distributor build relationships with its customers.
An economic slowdown within the next 12 months is looking increasingly likely, according to economists.
In the first quarter and second quarter of 2022, year-over-year growth topped 36.1% and 24.2%, respectively.
Envoy Solutions' deal with the Pennsylvania company continues its M&A momentum one month after acquiring seven companies in Michigan.
