MDM’s Top News Stories of 2023

Mergers and acquisitions in the distribution space always draw attention from executives, who use the announcements to keep an eye on the deals’ effect on competitor growth and long-term outlooks, or even to gauge the health of a market.

MDM’s 2023 tally of M&A news items involving distributors of industrial, commercial and building supply products or manufacturers that sell into the channel considerably trumped that of 2022, which we’ll discuss in more detail next week in a 2023 M&A recap piece. But one triple-announcement acquisition in particular drew the most attention this year from MDM’s readership, which primarily consists of wholesale distribution executives.

A trio of deals announced simultaneously by Ferguson — ranked No. 3 on the MDM’s 2023 Top Industrial Distributors List — was this year’s most viewed news item, and by far. As soon as it was published in the summer, it skyrocketed to the most-read news story on MDM.com, and it hasn’t budged from the top spot.

Check out which of MDM’s distribution-related news got the most clicks this year below. More than half in the Top 30 news stories were M&A announcements, but cybersecurity, business shutterings and C-suite appointments also ranked among the most viewed.

MDM’s Top 10 Distribution-Related News of 2023

1. Ferguson Makes Trio of Acquisitions, Adding $450M Revenue — published Aug. 2 — The Virginia-based plumbing and industrial supplies distribution giant made additions across three different industries in the U.S. northeast when it acquired plumbing distributor Bruce Supply Corp. (Brooklyn, NY); waterworks distributor The Kennedy Companies (Mount Laurel, NJ); and HVAC distributor S. G. Torrice (Wilmington, MA).
2. Ace Hardware Hit by Cyber Attack — Oct. 30 — Ace Hardware responded to a cyber attack, which impacted the majority of its IT systems and forced the retailer to suspend online orders. Check out this MDM Premium article to dive into the threat of cyber attacks on the distribution industry. 
3. Maintenance Distributor AZP Multifamily Abruptly Closes — July 13 — Phoenix, AZ-based multifamily property maintenance supplied distributor AZP, also known as AZ Partsmaster, has abruptly closed its doors for good.
4. HD Supply Acquires Redi Carpet — Aug. 2 — MRO distributor HD Supply has closed its first acquisition since being re-acquired by Home Depot in late 2020. Check out this MDM Premium article on how HD Supply is eyeing deeper MRO market penetration. 
5. Aircraft Parts Distributor Incora Files for Bankruptcy — June 5 — Known as Wesco Aircraft until 2020, the company looks to right-size its debt amid reduced demand and ongoing litigation.
6. Distribution Solutions Group to Buy Hisco for Up to $319M — March 31 — DSG paid $269 million at closing for Hisco, which was No. 39 on MDM’s 2022 Top Industrial Distributors list.
7. 3M Fires Longtime Exec for Inappropriate Conduct — May 15 — 3M has terminated long-time exec Michael Vale for “inappropriate personal misconduct” just three weeks after he took on a newly-created post.
8. Graybar Acquires Valin Corp. in Diversification Move — April 26 — Graybar aims to bolster its growing industrial automation platform with the acquisition of San Jose, CA-based Valin.
9. CD&R Completes $2.3B Acquisition of Veritiv — Dec. 1 — CD&R advisor and White Cap CEO John Stegeman becomes chairman of Veritiv upon the transaction closing.
10. Grainger Announces Passing of Former Chief HR Officer — Sept. 7 — MRO products distributor Grainger solemnly announced the passing of Kathleen Carroll, a former strategic advisor for the company who previously served as Senior Vice President and Chief Human Resources Officer.

Check out MDM’s next 20 most-viewed news stories of 2023:

• Newly-Launched Indicor Appoints CEO, Sets HQ in Charlotte — March 16
• Ferguson Fiscal 2Q Sales Growth Decelerates — March 7
• BlackHawk Acquires Alro Industrial Supply; 10th Deal in 2 Years — Dec. 19
• Foundation Building Materials Acquires Marjam Supply — April 10
• Imperial Dade Acquires Trio of Distributors in Canada — March 2
• Rexel to Buy Dutch HVAC Distributor Wasco in $518M Deal — June 5
• Home Depot to Add Contractor Design-Oriented Distributor — Nov. 22
• McMaster-Carr to Add $360M Regional HQ in Fort Worth — Aug. 25
• BradyIFS Merges with Envoy Solutions in JanSan, FoodService Shakeup — Oct. 31
• Report: Activist Investor Urges MRC Global to Explore Sale — Oct. 18
• Brad Jacobs to Enter Building Products Distribution with QXO — Dec. 11
• Motion Appoints New Operations, Commercial & Technology Leaders — May 12
• Sonepar’s 2022 Sales Jumped 28% to Nearly $35B — March 23
• Henry Schein Hit Again by Same Ransomware Group — Nov. 27
• Ferguson Expects Flat 2024 Sales, Details Acquisitions — Sept. 26
• BlackHawk Industrial Acquires Stock’d Supply — April 10
• Watsco Acquires Gateway Supply for $103M — Sept. 6
• Rexel USA Acquires Teche Electric Supply in Louisiana — March 26
• Auto Parts Distributor Owes $5.6M in Back Wages to 1,300 — July 20
• AFC Industries Acquires White Distribution & Supply in Iowa — Dec. 20

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