During February, MDM reported on 31 pending or completed M&A transactions that involve distributors or manufacturers that sell into the channel. The vast majority — 24 — involved distributors in the industrial, commercial and building supply markets. A handful of M&A announcements included multiple companies changing hands.

While it was another active M&A month by historic standards, February trailed January and December’s count 37 and 40, respectively. But, February also had 1-2 days fewer than the other 11 months of the year, even with a Leap Year.

Find our rundown of February M&A news below, mostly in reverse chronological order and separated by distributors and manufacturers.

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DISTRIBUTORS (24)

Wheels & Tires Maker, Distributor Titan Acquires Carlstar: Titan International acquired global specialty tire and wheel manufacturer and distributor Carlstar Group for approximately $296 million. The move diversifies Titan’s current portfolio of off-highway wheels, tires, assemblies and undercarriage products primarily for the agriculture market. Carlstar distributes and manufactures tires and wheels for a variety of end-market verticals, primarily consumers, including in outdoor power equipment, power sports, trailers and small to midsize agricultural and construction equipment.

Dole Selling Progressive Produce Unit for $120M: Produce grower, marketer and distributor Dole plc is divesting its majority stake in Los Angeles-based Progressive Produce LLC to PTF Holdings — the parent company of Pacific Trellis Fruit — for $120 million. PTF is a portfolio company of Arable Capital Partners. Progressive is a grower, packer and distributor of conventional and organic produce to the retail, wholesale and foodservice sectors in the U.S. and Canada. Progressive had 2023 sales of over $400 million.

Big Lift Acquires Material Handling Equipment Provider ePicker: Big Lift acquired Fort Worth, TX-based material handling equipment provider ePicker to boost its lithium-powered forklift offering. Since its launch in 2021, ePicker has built a network of material handling distributors that market its portfolio of electric pallet jacks, stackers, access vehicles and lithium-ion-powered forklifts to customers across North America.

84 Lumber Acquires West Coast Lumber Assets: As part of its expansion plans in California, building materials supplier 84 Lumber will acquire San Diego-based West Coast Lumber’s production yard business. The acquired West Coast Lumber assets and team will be integrated into 84 Lumber’s Bakersfield, CA, location and its new Riverside, CA, location, which was previously Champion Lumber.

Beacon Acquires Metro Sealant: Beacon acquired Metro Sealant & Waterproofing Supply — a distributor based in Springfield, VA with three additional branches in Ashland, VA; Linthicum, MD; and Virginia Beach, VA. Metro has a 35-year history of serving contractors, design professionals and owners with tailored sealant and waterproofing solutions for commercial construction.

Bunzl Makes Pair of Deals in Europe: The London-based distributor of packaging, disposable, cleaning and safety products announced a pair of pending acquisitions on Feb. 26. One is U.K.-based catering equipment and consumables distributor Nisbets, which had 2023 revenue of $631 million, and the other is Finaland-based Pamark, a distributor of cleaning and hygiene, healthcare, foodservice and safety products with 2023 revenue of $62 million.

SurfacePrep Sold from One PE Firm to Another: Ownership of Grand Rapids, MI-based surface enhancement solution distributor SurfacePrep has changed hands from CenterOak Partners to fellow private equity firm Nautic Partners. SurfacePrep primarily offers loose and coated abrasives, specialty ceramic materials and related spare parts and equipment.

Vallen to Buy Wesco’s Integrated Supply Unit for $350M: In a market shakeup for industrial MRO products and services, Vallen Distribution is set to buy Wesco Integrated Supply (WIS)  — the industrial supplies unit of electrical supplies distribution giant Wesco International — for $350 million. Announced Feb. 23, the deal includes predominantly all of Wesco’s industrial MRO integrated supply business in North America and Europe, which had 2023 total sales of approximately $784 million.

Veritiv Acquires Kitting, Packaging Provider Vivabox: Atlanta-based packaging, JanSan and hygiene product distributor Veritiv acquired Vivabox Solutions to bolster its existing kitting and assembly capabilities in its packaging segment. Vivabox is a full-service provider of customized, premium marketing solutions including tailored, multi-brand kitting solutions and packaging products for global luxury and premium consumer brands.

Motion Adds Pair of Canadian Fluid Power Providers: The MRO parts distributor has acquired the assets of Perfetto Manufacturing and SER Hydraulics — two providers of engineered solutions, service and equipment for hydraulic/pneumatic cylinders, complex power units and other assets. Both are based in Sudbury, Ontario, which is central to mining, agricultural and forestry industries.

US Foods Acquires IWC, Saladino’s: US Foods is set to acquire IWC Food Service, a broadline foodservice distributor that serves the greater Nashville, TN area. Its product lineup includes an array of food categories, a beverage service program, janitorial items and a complete line of chemicals for dishwashing and laundry. During 4Q23, US Foods acquired Saladino’s Foodservice, an independent broadline foodservice distributor based in Fresno, CA, for $56 million. Saladino’s product categories include food and beverages, foodservice disposables, janitorial and linens, office supplies, safety products and smallwares.

B&D Industrial Acquires American Gear & Engineering: Independent industrial distributor B&D Industrial (Macon, GA) acquired Westland, MI-based gear manufacturer American Gear & Engineering for an undisclosed amount. The deal includes Tech Tool Company, a complementary gear rack manufacturer.

DXP Enterprises Acquires Kappe Associates: Houston-based DXP acquired acquired Kappe Associates, Inc., a Frederick, MD-based distributor and manufacturers representative of pumps, controls and process equipment focused on serving the water and wastewater industry. Founded in 1946, Kappe operates out of three locations servicing Maryland, Washington, D.C., Delaware, Virginia, Pennsylvania, Southern New Jersey and West Virginia. Kappe had 2023 sales of $25.4 million and adjusted EBITDA of $3.8 million.

DNOW to Acquire Valves & Automation Distributor Whitco Supply: Houston-based oilfield products distributor DNOW is set to acquire Whitco Supply, a distributor of PVF and automation products headquartered in Broussard, LA. It gains DNOW a family-owned distributor of energy products and solutions to the midstream market and broader energy sectors. Whitco has about 230 employees across eight locations in Louisiana, Texas, New Mexico, Ohio and Pennsylvania.

US LBM Adds Old Mission Windows in Northern Michigan: Specialty building materials distributor US LBM acquired Traverse City, MI-based windows and doors distributor Old Mission Windows, which was founded in 1985 and distributes windows and doors to residential homebuilders and contractors throughout northern Michigan.

Singer Industrial Acquires Hose Tech USA in Texas: Dallas-based Singer added Fort Worth, TX-based Hose Tech USA, a fellow distributor of hydraulic and industrial hose fittings and adapters. Hose Tech will operate within Singer’s Industrial Rubber division.

Beacon Grows in Carolinas, Acquires Roofers Supply: Roofing and other building supplies distributor Beacon will grow its service geography and design services for commercial roofers in the Carolinas with the acquisition of Roofers Supply of Greenville. Roofers Supply has a more than 40-year history in commercial roofing throughout the southeast, with a headquarters in Greenville, SC, and two additional branches in Charlotte and Raleigh, NC.

Core & Main to Add Waterworks Distributor Dana Kepner: Infrastructure supplies distributor Core & Main will acquire Denver-based waterworks product distributor Dana Kepner Co. and associated entities. Founded in 1933, Dana Kepner has 19 locations across the U.S., operating in Arizona, Colorado, Connecticut, Massachusetts, Nevada, Rhode Island, Texas and Wyoming. Dana Kepner distributes water, wastewater, storm drainage, geotextile products, and related specialty tools and accessories.

Imperial Dade Acquires Pair of Canadian JanSan Distributors: The Jersey City, NJ-based foodservice disposables and JanSan supplies distributor added Oakville, Ontario-based Superior SANY  Solutions from GDI Integrated Facility Services, and acquired Reptentigny, Quebec-based Les Produits Sanitaires Royal Net, a distributor of JanSan, paper and packaging products.

Imperial Dade Acquires New England’s Allston Supply: In Springfield, MA-based Allston, Imperial Dade gained a distributor of JanSan products and services serving the greater New England region. Allston was founded in 1945.

See MDM’s 4Q23 M&A Report here (Premium)

MANUFACTURERS (7)

Innovance Acquires Jorgenson Conveyor and Filtration: Innovance, an employee-owned holding company focused on manufacturing and industrial technology, acquired Mequon, WI-based Jorgensen Conveyor and Filtration Solutions. Jorgensen is a industrial machine manufacturer which provides conveyors, coolant filtration systems material handling equipment and chip processing equipment for several industries, including machine tool and metal working.

Henkel to Acquire Seal for Life Industries: Adhesives and sealants manufacturer Henkel is set to acquire Houston-based Seal for Life Industries LLC from Arsenal Capital Partners for an undisclosed amount. It gains Henkel a specialized supplier of protective coating and sealing solutions for a variety of infrastructure markets, including renewable energy, oil and gas and water. Seal for Life operates globally and generated 2023 sales of about $269 million.

Trystar Acquires Manufacturers in Wisconsin & Quebec: Portable and industrial power products maker Tryster (Faribault, MN) acquired fellow manufacturers in Wisconsin and Canada in the form of Macromatic Industrial Controls and Primax Technologies. Based in Waukesha, WI, Macromatic engineers and manufactures industrial controls, monitoring and protection products designed to maintain productivity. It has 37 employees. Primax is based in Pointe-Claire, Quebec and produces utility and industrial-grade AC and DC uninterruptible power systems, DC-to-AC inverters, AC-to-DC rectifiers, and AC and DC distribution panels leveraging lithium-ion, nickel-cadmium and lead-acid batteries and related technology.

Owens Corning to Buy Masonite in $3.9B Deal: Building and construction manufacturer Owens Corning will acquire all outstanding shares of interior and exterior doors and door systems provider Masonite International Corp. The implied transaction value is about $3.9 billion. Masonite’s doors business — which includes 64 manufacturing and distribution facilities — complements and strengthens Owens Corning’s existing residential interior and exterior building materials product offering. Founded in 1925, Masonite designs, manufactures, and markets doors and door systems.

Mauser Packaging Solutions Acquires Consolidated Container Co.: Rigid packaging product manufacturer Mauser Packaging Solutions acquired industrial container manufacturer and distributor Consolidated Container. Consolidated has facilities in Minneapolis and Kansas City, while Mauser operates manufacturing locations in over 20 countries.

Ingersoll Rand Acquires Dryer & Chiller Maker Friulair: Flow creation and industrial solutions provider Ingersoll Rand acquired Italy-based dryer, filter, aftercooler and accessories maker Friulair S.r.l. for approximately $146 million. Friulair is primarily known for its solutions for the treatment of compressed air, along with its chiller product line.

What’d We Miss?

Of course, it’s highly unlikely that the list above encompasses every M&A deal announced during February for relevant distributors and manufacturers. There will always be deals that weren’t on our radar. If you don’t see one here you think should be included, please let us know at editor@mdm.com.

• Here’s our January M&A Roundup
• Here’s our 2023 M&A Recap (Premium)
• Here’s our December M&A Roundup