August M&A Roundup: Pace of Deals Increases Again Following Slow July

As we noted last month, the pace of mergers and acquisitions has been somewhat inconsistent throughout 2023. The year started off strong with 50 reported deals in January, but the pace has gone up and down in the seven months that have followed. After a relative slowdown in June (27) and July (23), the number of M&A deals took off again in August, as MDM reported on 40 deals involving distributors or relevant manufacturers in industrial, commercial and building supply verticals. The August total ties for the second-best month for M&A in 2023, as we also reported 40 deals in April.

And it wasn’t just the tally of mergers and acquisitions that stood out. Some of the industry’s top distributors announced or closed deals in August.

BradyIFS not only acquired a Southern California-based JanSan company — it also announced that it was merging with Envoy Solutions, in one of the most impactful deals we’ve reported this year. Veritiv Corporation announced it will be acquired by CD&R for approximately $2.3 billion, while Ferguson simultaneously announced three acquisitions that could net the company an additional $450 million in revenue. Border States, ABC Supply, Beacon, Imperial Dade, White Cap, Stellar Industrial and a host of other distributors also announced deals during the month.

Read about all the deals from August by clicking the links below. Premium members can download and read the 2Q 2023 M&A Report here.

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August M&A:

These are the M&A announcements — primarily involving distributors, but also manufacturers that sell through the channel — that MDM covered during August 2023 (click the headline for more details):

• ABC Supply Adds 7 Canada Locations with Cedar Grove Roofing — On Aug. 3, Chicago-based roofing and building products distributor ABC Supply Co. announced it grew its Canadian presence by acquiring Cedar Grove Roofing Supply.
• Atlas Copco to Acquire Australian Dewatering Pump Maker — On Aug. 21, Atlas Copco — a major manufacturer of compressors, vacuum solutions, generators, pumps, power tools and assembly systems that sells through distributors  — announced it has acquired Sykes Group Pty Ltd from Seven Group Holdings Ltd.
• Beacon Acquires All American Vinyl Siding Supply — On Aug. 1, building products distributor Beacon announced it has completed the acquisition of Tupelo, Missouri-based All American Vinyl Siding Supply.
• Boise Cascade to Acquire Distributor BROSCO for $172M — Building materials manufacturer and distributor Boise Cascade will expand its millwork business with the purchase of Brockway-Smith Company (BROSCO), a wholesale distributor specializing in doors and millwork.
• Border States Acquires Sequel Electrical in Mississippi — Electrical supplies distributor Border States announced Aug. 11 that it has reached an agreement to acquire Meridian, Mississippi-based Sequel Electrical Supply.
• BradyIFS Acquires Rancho Janitorial in Southern California — On Aug. 2, foodservice disposables and JanSan products distributor BradyIFS announced that it has acquired Fontana, California-based Rancho Janitorial, Inc., a distributor serving the Southern California market.
• BradyIFS Merges with Envoy Solutions in JanSan, FoodService Shakeup — In a deal that will combine two large distributors, foodservice disposables & JanSan products company BradyIFS will merge with JanSan & packaging supplies company Envoy Solutions, according to a joint announcement.
• Canada’s Roofmart Acquires AMA Roofing Supplies — On Aug. 2, Canada-based Roofmart Ontario announced it has acquired Hamilton-based AMA Roofing Supplies.
• CES Power Acquires Infinite Power — On Aug. 17, Memphis, Tennessee-based power generation and control solution manufacturer CES Power announced the acquisition of Beltsville, Maryland-based Infinite Power, a provider of temporary mobile power and climate control solutions.
• CD&R to Buy Packaging & JanSan Distributor Veritiv for $2.3B — On Aug. 7, packaging, facility solutions and print products distributor Veritiv Corporation announced that it had reached a deal with the private investment firm in which an affiliate of CD&R will acquire Veritiv for approximately $2.3 billion.
• Conner Industries Acquires Guardian Packaging — Fort Worth, Texas-based industrial packaging supplier Conner Industries, Inc., announced that is has acquired Garland, Texas-based Guardian Packaging Industries, LP, a foam cutting specialist and an integrated packaging provider that combines wood, foam and corrugate components.
• DuPont Acquires Spectrum Plastics, Adding $500M Revenue — On Aug. 2, Wilmington, Delaware-based global chemical company DuPont announced that it has completed its previously announced acquisition of Spectrum Plastics Group.
• DuPont to Sell 80% of Delrin Unit to Private Equity for $1.8B — On Aug. 21, Wilmington, Delaware-based global chemical company DuPont announced that it has agreed to sell an 80.1% ownership interest in the Delrin acetal homopolymer (H-POM) business to private equity firm TJC LP (TJC) for $1.8 billion.
• Eckart Supply Acquires Electrical Supplies Unlimited in Georgia — On Aug. 4, Indiana-based electrical, HVAC and plumbing supply distributor Eckart Supply announced it acquired Buford, Georgia-based Electrical Supplies Unlimited.
• Emerson Expands Automation Portfolio with 2 Acquisitions — Last week, St. Louis, Missouri-based Emerson Electric announced two new acquisitions of Europe-based companies.
• Fastener Supply Company Acquires General Machinery — Charlotte, North Carolina-based Fastener Supply Company finalized its acquisition of General Machinery.
• Ferguson Makes Trio of Acquisitions, Adding $450M Revenue — Plumbing and industrial supplies distribution giant Ferguson announced a major expansion on Aug. 2 in the form of a trio of acquisitions across three different industries.
• Fluke Reliability Acquires Vibration Monitoring Supplier Azima — Everett, Washington-based Fluke Reliability, a wholly owned subsidiary of Fortive Corporation, announced Aug. 29 that it has acquired Azima DLI, a producer of subscription-based remote condition monitoring and AI-powered vibration analytics software.
• Forward Solutions Adds Rep Firms ElectroRep, R/B Sales — Hershey, Pennsylvania-based Forward Solutions recently announced two mergers it says will expand its operations and “pave the way for strategic growth in the electrical channel.”
• HD Supply Acquires Redi Carpet — On Aug. 1, The Home Depot subsidiary HD Supply closed its acquisition of Houston, Texas-based flooring supplier Redi Carpet.
• Ingersoll Rand Completes $300M Howden Roots Acquisition — On Aug. 18, global pumps and compressors manufacturer Ingersoll Rand announced it has completed the acquisition of Howden Roots from Chart Industries in an all-cash transaction of approximately $300 million.
• Imperial Dade Acquires The Ohio & Michigan Paper Company — JanSan and foodservice supply distributor Imperial Dade on Aug. 21 announced the acquisition of industrial and janitorial products distributor The Ohio & Michigan Paper Company.
• Industrial Packaging Supplier Greif Acquires Most of ColePak — On Aug. 30, industrial packaging supplier Greif announced it acquired 51% of the ownership interest in Ohio-based ColePak.
• Lawless Group Expands Further, Acquires Hobart Associates — On Aug. 16, Dallas-based manufacturers representation agency The Lawless Group announced its acquisition of Kansas City, Kansas-based Hobart Associates.
• Luxembourg-Based Ceratizit Acquires China’s CW Toolmaker — On Aug. 16, CB-CERATIZIT — a joint venture company of CERATIZIT, part of the Plansee Group — announced that it has acquired 70% of all shares of Changzhou CW Toolmaker Inc.
• Marco Rubber & Plastics Acquires American Seal & Packing — Custom sealing solutions provider Marco Rubber & Plastics has acquired American Seal & Packing, a distributor of specialty O-rings, seals, gaskets and vee packing with a focus on specialty graphite-based products
• MCE Acquires Ultimation Industries in Michigan — On Aug. 17, Zelienople, Pennsylvania-based industrial distributor Motion & Control Enterprises announced that it has acquired Ultimation Industries LLC, its fourth acquisition of 2023.
• Packaging Distributor TricorBraun Acquires CanSource — On Aug. 8, St. Louis-based packaging distributor TricorBraun announced it has acquired Longmont, Colorado-basedCanSource, a provider of can packaging and related services.
• Packaging Supplier Constantia Flexibles Privately Acquired — An affiliate of One Rock Capital Partners is acquiring flexible packing supplier Constantia Flexibles from its parent company of Vienna, Austria-based Wendel.
• Performance Food Group Acquires OLM Food Solutions — In July, Richmond, Virginia-based foodservice distributor Performance Food Group Co. (PFG) acquired Sioux Falls, South Dakota-based OLM Food Solutions, according to a Sioux Falls Business report.
• Ravago Acquires Most of Plastic Resin Distributor M. Holland — On Aug. 22, Illinois-based Holland Company — an international distributor of thermoplastic resins and ancillary materials — announced it has reached an agreement to partner with Ravago Group, a leader in polymer recycling and distribution.
• RBC Bearings Acquires Specline for $19M — Oxford, Connecticut-based RBC Bearings Incorporated on Aug. 21 announced the acquisition of the business assets of Specline, Inc. — a manufacturer of precision bearings for the commercial and defense aerospace markets — for $18.7 million.
• Relevant Industrial to Add Combustion Experts MW Nelson — On Aug. 7, Houston-based Relevant Industrial — a distributor and solutions provider of instrumentation and automation, rotating equipment, valve, purification and thermal equipment — announced it will acquire Marshall W. Nelson & Associates, Inc.
• Stellar Industrial to Acquire The Tool Crib in Knoxville — Tacoma, Washington-based Stellar Industrial Supply announced on Aug. 16 that the MRO distributor has signed a definitive asset purchase agreement to acquire Knoxville, Tennessee-based metalworking distributor The Tool Crib Inc. (TCI).
• Thomas Scientific Acquires Quintana Supply — Scientific and controlled environment products distributor Thomas Scientific completed the acquisition of Massachusetts-based cleanroom, packaging, and industrial products provider Quintana Supply.
• West Coast Lumber Acquires Stone Truss in San Diego — Regional lumber and building materials supplier West Coast Lumber (WSL) has entered into the structural component manufacturing category with the acquisition of San Diego-based Stone Truss.
• White Cap to Buy SoCal’s RENO Hardware and Supply — On Aug. 1, White Cap Supply Holdings, LLC — a distributor of specialty construction supplies and safety products for professional contractors — announced it has entered into a definitive agreement to acquire RENO Hardware and Supply, Inc., a distributor of construction supplies serving commercial, multi-family and residential contractors in Southern California.