September M&A Roundup: Another Big Month for Deals

The final month of the third quarter proved to be a favorable one for M&A in distribution with nearly 30 deals reported in MDM.

September saw a range of transaction sizes from mom-and-pops trading hands up to Distribution International’s private equity backer Advent International selling the distributor to TopBuild Corp. for $1 billion.

Other notable deals saw Top Distributors like DXP Enterprises, Core & Main, Builders FirstSource, Sonepar, Winsupply, US LBM, and Dakota Supply Group acquire assets.

There were many more notable transactions, of course, and in case you missed anything, here are all the M&A announcements — primarily involving distributors but also manufacturers that sell through the channel — MDM covered during the previous month (click the headline for more details):

• Summit Hydraulics Locks Up PE Investment from North Branch Capital — Private equity firm North Branch Capital has made an investment in Phoenix-based Summit Hydraulics.
• Pearlman Group Acquires Excel Cleaning and Restoration Supplies — Norcross, Georgia-based Pearlman Group has acquired Excel Cleaning and Restoration Supplies.
• Specialty Building Products to Acquire Reeb Millwork Corporation — Specialty Building Products (SBP) — the Duluth, Georgia-based parent of U.S. Lumber and other businesses — agreed to acquire Reeb Millwork Corp.
• RelaDyne Acquires PPC Lubricants — Cincinnati-based RelaDyne, which offers lubricants, fuel, diesel exhaust fluid (DEF) and industrial reliability services, announced the acquisition of PPC Lubricants, a lubricant distributor in the Mid-Atlantic region.
• LINC Systems Buys Air-O Fasteners — Private equity firm Center Rock Capital Partners LP announced that LINC Systems, its industrial fastener and packaging distribution platform, has acquired Salt Lake City-based Air-O Fasteners.
• DXP Enterprises Completes Acquisition of Premier Water — MRO and industrial distributor DXP Enterprises Inc., Houston, announced the completion of its acquisition of Premier Water, a distributor and provider of products and services that serves the water and wastewater treatment markets in North Carolina and South Carolina.
• MiddleGround Capital Acquires Arrow Tru-Line — Lexington-based MiddleGround Capital, a private equity firm that invests in North American middle market B2B industrial and specialty distribution companies, has acquired Arrow Tru-Line Inc.
• Olympic Steel Sells Off Detroit Assets and Operations for $58.4M — Cleveland-based Olympic Steel Inc., announced the sale of substantially all the company’s Detroit assets and operations to Venture Steel Inc. for $58.4 million, subject to a future working capital adjustment that’s expected to increase the final sale price.
• JIS Distribution Buys Erie Tool & Supply Co. — Cleveland-based JIS Distribution LLC has acquired Erie Tool & Supply Co., a Toledo, Ohio-based company that has served northwest Ohio and southeastern Michigan industrial customers for over 85 years.
• HVAC Vendor Bluon Acquires XREF Publishing — HVAC vendor Bluon has acquired XREF Publishing Co., a provider of replacement part and cross reference part information that’s used by HVAC distributors in the U.S.
• Core & Main to Acquire CES Industrial Piping — Core & Main Inc., a St. Louis-based distributor of water, sewer and fire protection products, has agreed to acquire CES Industrial Piping Supply, a Kansas City-based, full-service provider of HDPE (high-density polyethylene) products and services.
• Buckeye Industrial Supply Acquires Ray Industrial — Columbus, Ohio-based Buckeye Industrial Supply Co. (BIS), has acquired Ray Industrial Products Inc. (RIPI), a Van Wert, Ohio-based distributor.
• FleetPride Buys Chattanooga-based Truck Service Company — FleetPride Inc., Irving, Texas, has struck a deal to buy the assets of Truck Service Co. Inc.
• Bunzl Acquires U.S.-Based Safety Distributor — Bunzl PLC has acquired McCue Corp., a Boston-based safety business and a medical supplies distributor with operations in Australia and Singapore.
• Paragon Innovations is Acquired by TTI’s Exponential Technology Group — Paragon Innovations, a privately held engineering design services company based in Richardson, Texas has been acquired by TTI’s Exponential Technology Group (XTG).
• AGCO Buys Faromatics to Bring ‘ChickenBoy’ Under its Roof — Farm equipment manufacturer and distributor AGCO (NYSE: AGCO), Duluth, Georgia, has acquired Farm Robotics and Automation S.L (Faromatics), a “smart” livestock farming company.
• Builders FirstSource Acquires Apollo Software Assets — Builders FirstSource Inc., Dallas, has acquired Apollo software assets from construction technology startup Katerra for $4.5 million.
• Envoy Solutions to Acquire Penn Jersey Paper — Envoy Solutions — the Glenview, Illinois-based holding company that owns and operates North American, WAXIE Sanitary Supply, SWPlus, Southeastern Paper Group and Daycon Products Co. — on Wednesday announced it has agreed to acquired Penn Jersey Paper Co., Philadelphia.
• Advent International Strikes a $1 Billion Deal to Sell Distribution International — Private equity firm Advent International announced on Wednesday that it has entered into an agreement to sell Distribution International Inc. to TopBuild Corp. in an all-cash transaction valued at $1 billion.
• Martin Inc. Acquires Capital Bolt & Screw — Martin Fastening Solutions, a subsidiary of Florence, Alabama-based Martin Inc., has acquired Capital Bolt & Screw (CB&S), Jackson, Mississippi.
• Sonepar USA Closes Acquisition of Springfield Electric Supply Co. — Sonepar USA Holdings Inc., a Charleston, South Carolina-based subsidiary of the privately held Sonepar Group, closed its acquisition of Springfield Electric Supply Co., Springfield, Illinois.
• White Cap Expands into Northeast Region with Deal to Buy Tri-Supply — Atlanta-based White Cap Supply Holdings expanded its footprint in the Northeast Region of the U.S. by striking a deal to acquire Tri-Supply & Equipment, New Castle, Del.
• Winsupply Acquires Clausen Supply — Winsupply Inc., Dayton, Ohio, completed the acquisition of Clausen Supply of Iowa Inc., Clinton, Iowa.
• US LBM Acquires Northern Building Supply — Building materials distributor US LBM, Buffalo Grove, Illinois, has acquired Northern Building Supply, a full-service building products distributor and retailer with two locations in northern Michigan.
• Builders FirstSource Acquires California TrusFrame for $179.5M — Builders FirstSource Inc., Dallas, has acquired California TrusFrame LLC (CTF), a California-based producer of value-added building products, for $179.5 million.
• Motion & Control Enterprises Acquires Instrument Associates — Industrial distributor Motion & Control Enterprises, a Zelienople, Pennsylvania-based portfolio company of the private equity firm Frontenac Co., has acquired Instrument Associates Inc., Alsip, Illinois.
• US LBM Acquires Mid-Cape Home Centers — Building materials distributor US LBM, Buffalo Grove, Illinois, has acquired Mid-Cape Home Centers, a South Dennis, Massachusetts-based building products and home improvement company with six locations in the southern coastal region of Massachusetts.
• SKF Acquires Lubrication Filtration Business — Swedish bearings manufacturer SKF has acquired EFOLEX AB, a Gothenburg, Sweden-based manufacturer of the Europafilter-branded industrial lubrication and oil filtration systems.
• DSG Acquires Montana Waterworks & Irrigation — Dakota Supply Group on Wednesday announced the acquisition of Montana Waterworks & Irrigation, Billings, Montana, in an asset purchase effective Sept. 1.

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