New York-based private equity firm Clayton, Dubilier & Rice says it will acquire Cornerstone Building Brands, Inc. (NYSE: CNR), the largest manufacturer of exterior building products in North America, for $5.8 billion. The deal is an all-cash transaction, CD&R said. The approximate $5.8 billion enterprise value includes the assumption of debt. CD&R is currently the […]
Category: Mergers & Acquisitions
NSI Industries Acquires Metallics
NSI Industries — a Huntersville, North Carolina-based provider of electrical product solutions — says it has reached a deal to acquire Metallics, a Bristol, Connecticut-based manufacturer and supplier of fasteners and related supplies. Financial details were not announced. The acquisition will allow NSI to “further key inroads” into the electrical, HVAC, and building technologies markets, […]
DXP Announces 2 Acquisitions
Houston-based MRO and industrial distributor DXP Enterprises Inc. (NASDAQ: DXPE) this week announced two acquisitions. DXP acquired Drydon Equipment, Inc., a distributor and manufacturer rep of pumps, valves, controls and process equipment for the water and wastewater industry in the areas of central and northern Illinois, northwest Indiana, Wisconsin and the Upper Peninsula of Michigan […]
Pentair Acquiring Manitowoc Ice for $1.6B
Pentair plc (NYSE: PNR) has reached a definitive agreement to acquire Manitowoc Ice, a provider of commercial ice makers, for $1.6 billion, subject to “customary adjustments.” When adjusted for approximately $220 million of expected tax benefits, the net transaction value is approximately $1.38 billion, Pentair said. The company said it expects to fund the acquisition […]
SBP Holdings Acquires Hydrafab
SBP Holdings, a provider of inspection and testing services, repairs and specialized rental activities, has acquired Hydrafab LLC, a Wyoming-based company that provides repair services, fabrication and sales for hydraulic products. Hydrafab will operate within Dakota Fluid Power, the fluid power/automation platform for SBP Holdings. Financial details were not announced. With the deal, SBP Holdings […]
TriMas Acquires Intertech Plastics
TriMas (NASDAQ: TRS), a Bloomfield Hills, Michigan-based manufacturer of engineered and applied products has acquired Intertech Plastics, a provider of complex, precision injection molded components. Financial details were not disclosed. Intertech, which consists of two manufacturing facilities located in Denver, will become part of TriMas Packaging, effective immediately. Intertech previously operated as a private, family-owned […]
February 2022 M&A Roundup: Sonepar-Nautic Deal Closes out Month
The sheer number of merger-and-acquisition announcements in the distribution industry dropped off slightly in February, but there were still more than a few deals that will likely have impacts across multiple sectors. Private equity firm Nautic Partners, LLC says it has reached a definitive agreement with the Sonepar Group to acquire Vallen Distribution, a company […]
Sonepar to Sell Vallen to Nautic Partners
Private equity firm Nautic Partners, LLC has reached a deal with the Sonepar Group to acquire Vallen Distribution, a company that provides supply chain solutions and services. The acquisition is happening in partnership with Vallen management. Nautic said the sale is anticipated to close “as soon as possible,” following regulatory approval. Financial details were not […]
Relevant to Acquire Rawson/ICD
Houston-based distributor Relevant Industrial, LLC says it has reached an agreement to acquire product-solutions company Rawson/ICD, Inc. Financial details were not disclosed. Relevant provides value-added distribution and service for instrumentation and automation, rotating equipment, valve, purification, and thermal equipment solutions. As part of the transaction, Rawson/ICD’s commercial building automation team will be acquired by Building […]
American Equipment Acquires Kistler Crane & Hoist
Salt Lake City-based American Equipment Holdings has acquired Kistler Crane & Hoist, a Midwest provider of overhead crane systems and MRO field services. The agreement is the sixth acquisition completed by American Equipment since partnering with Rotunda Capital Partners in May 2021. Financial details were not disclosed. The acquisition is expected to expand American Equipment’s […]
Resideo Acquires Arrow Wire & Cable
Resideo Technologies, Inc. (NYSE: REZI) — a global provider of security solutions and commercial and residential security and audio-visual products — has acquired privately held Arrow Wire & Cable, based in Chino, California. Financial terms were not disclosed. The deal is the second datacom and security acquisition for Resideo’s ADI Global Distribution in the past […]
JGB Enterprises Rebrands as Echelon Supply and Service
Liverpool, New York-based JGB Enterprises, Inc. — a company backed by HCI Equity Partners — will now be known as Echelon Supply and Service, the company announced. The move was part of an evolving consolidation effort and comes roughly six months after the company made a key Canadian acquisition. “When JGB Enterprises acquired HosePower Canada […]
Gryphon Investors Acquires Benoist Brothers
Middle-market private equity firm Gryphon Investors has acquired Benoist Brothers Supply Co., a Midwest-based regional distributor of HVAC/R equipment, parts and supplies. Financial terms were not disclosed. Gryphon said it plans to operate the Company as an independent division of its Wittichen Supply Holding Company under the Benoist brand, alongside existing portfolio company Wittichen Supply […]
Sysco Closes Acquisition of Coastal Companies
Foodservice distributor Sysco Corp. (NYSE: SYY) of Houston has completed its acquisition of The Coastal Companies, a leading fresh produce distributor and value-added processor based in Laurel, Maryland. The deal previously was reported in December. Financial details were not disclosed. “The acquisition will operate as part of FreshPoint, Sysco’s specialty produce business, and enables FreshPoint […]
Descartes Acquires NetCHB
Descartes Systems Group Inc., (TSX:DSG) (Nasdaq:DSGX) of Waterloo, Ontario, has acquired NetCHB, a leading provider of customs filing solutions in the U.S. Descartes said it acquired NetCHB for “up-front cash consideration” of $40 million, plus potential performance-based consideration. The maximum amount payable under the all-cash performance-based earn-out is $60 million, based on NetCHB achieving revenue-based […]
M&A Stays Hot in Automation/Electrical Distribution
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New Podcast: Inside the Motion Industries-Kaman Distribution Group Acquisition
In a blockbuster deal that shifts the competitive landscape beyond their core product sectors, Motion Industries announced in December that it was acquiring Kaman Distribution Group for $1.3 billion. I wrote a “behind-the-deal” analysis shortly after that announcement, and the deal closed at the beginning of January. In this week’s MDM Podcast, Motion Industries President […]
Jon-Don Acquires USA-CLEAN
JanSan distributor Jon-Don, Roselle, Illinois, has acquired USA-CLEAN. Jon-Don, a leading supplier of commercial supplies, equipment, consumables, and “know-how” to specialty contractors, did not disclose the deal’s financial details. USA-CLEAN, based in Illinois, supplies repair parts for professional floor care equipment, including auto scrubbers, portable extractors, vacuums, and more. The company employs 50 people along […]
Essity Acquires Legacy Converting
Philadelphia-based hygiene and health company Essity has acquired wiping and cleaning company Legacy Converting, Inc. Financial details were not announced. Legacy, based in New Jersey, manufactures sanitizing and disinfecting wet-wipes, chemical-ready wipes and dry wipes, which will expand Essity’s Tork professional hygiene portfolio. With an expanded professional hygiene offering — and a more profound surface […]
SBP Holdings Sells Bishop Lifting Products
SBP Holdings — a provider of inspection and testing services, repairs and specialized rental activities — completed its sale of Houston-based Bishop Lifting Products, Inc., a group of value-added distributors of lifting products and specialty rental equipment. Bishop Lifting Products was sold to Altamont Capital Partners. Financial details were not disclosed. The transaction includes the […]
