Industrial distribution dealmaking activity posted another strong month in November 2024, with transaction volume on par with that of  October.

MDM reported 31 transactions in November — either pending or completed — involving at least one distributor in building supply, industrial and commercial sectors. That total was just ahead of the 30 transactions we covered in October and a healthy rise from the 26 in September. By recent historical standards, it indicates another strong month of dealmaking, and a rise from November 2023, which saw 26 distributor M&A deals in our coverage.

November 2024 pushed MDM’s year-to-date count to 322 through 11 months for an average of 29.3 deals per month, meaning this month was just ahead of the year’s average. That year-to-date activity is far ahead of the 268 total and 27.5 monthly average through the first 11 months of 2023.

Here’s how distributor deal activity has looked like since the start of 2023, according to MDM news coverage of such items per month:

November’s activity was highlighted by Cleveland-based Applied Industrial Technologies sharing Nov. 22 that it will acquire fellow fluid power and control systems distributor Hydradyne in a move that will combine the Nos. 1 and 10 companies on MDM’s 2024 Top Distributors List for Fluid Power. It will gain Applied 33 locations across Texas, Oklahoma, Louisiana, Arkansas, Mississippi, Alabama, Georgia, South Carolina, North Carolina and Florida, as well as approximately 500 associates.

That wasn't the only big deal of the month. On Nov. 1, Wesco said it will buy data center facility and property management services provider Ascent LLC for $185 million.

White Cap and Imperial Dade each announced a trio of bolt-ons during November, while fellow MDM Top Distributors DSG, Cardinal Health, DNOW and DXP Enterprises also made deals.

Find our rundown of November distributor M&A news below, mostly in chronological order.

MDM’s November 2024 Distributor M&A News Coverage

(click links to view news brief)

Pittsburgh, PA-based electrical supplies distributor Wesco is set to acquire Ascent LLC for $185 million.

TopBuild agreed to acquire North Tonawanda, NY-based Shannon Global Energy Solutions.

Construction and industrial supplies distributor White Cap acquired Mechanicsburg, PA-based Valley Supply, Inc, Nebraska-based TOOFast Supply and Shreveport, LA-based Midstream Supply & Rental.

Construction and contractor supplies distributor NEFCO announced the acquisition of Total Tool Supply.

Foodservice, packaging supplies, industrial products and janitorial supplies distribution Imperial Dade acquired California Janitorial Supply Co, Rochester, NY-based Economy Products & Solutions and Waukesha, WI-based San-A-Care, Inc.

Australia-based hand tools, diamond tools and safety products supplier OX Tools acquired distributor Tracer Tools from England-based ROYD Tool Group UK.

Grand Rapids, MI-based flat-rolled steel distributor Mill Steel Co. acquired Baltimore, MD-based Maryland Metals Processing (MMP).

The Woodlands, TX-based value-added chemicals distributor Shrieve Chemical Company — a portfolio of Gemspring Capital — acquired Newton, PA-based Connection Chemical, LP.

Minnesota-based electrical and industrial supplies distributor DSG acquired Peoria Pump, effective Nov. 4.

Houston-based pumping solutions and industrial supplies distributor DXP Enterprises acquired Omaha, NE-based Burt Gurney & Associates and California-based MaxVac Inc.

Fasteners distributor Endries International acquired Apopka, FL-based Assembly Fasteners, Inc.

Pharmaceuticals and healthcare supplies distributor Cardinal Health agreed to acquire GI Alliance (GIA) and Advanced Diabetes Supply Group (ADSG).

West Chester, OH-based tooling, fasteners and industrial supplies distributor AFC Industries acquired CH Peters.

Atlanta-based specialty packaging distributor Veritiv acquired PAX Global, a distributor and converter of custom packaging products with annual revenues of approximately $45 million.

New York-based MidOcean Partners — an asset manager specializing in middle-market private equity — acquired automotive air suspension manufacturer and distributor Arnott Industries.

Dallas, TX-based industrial rubber and fluid power products distributor Singer Industrial acquired Fluid Tech Hydraulics (FTH).

Instrumentation and automation, rotating equipment, valve, purification and thermal equipment distributor Relevant Industrial acquired Control Specialists (CSI).

Chino, CA-based industrial flow control products distributor Harrington Process Solutions acquired Fluid Gauge Company.

Fluid power, automation and process control solutions distributor Kundinger Service and Repair Solutions — a unit of Neenah, WI-based Kundinger, Inc. — acquired Astro Hydraulics, Inc.

LINC Systems — a portfolio company of Center Rock Capital Partners — acquired CORUS Fastening.

Electrical supply distributor Walters Wholesale Electric — a subsidiary of U.S. Electrical Services Inc. (USESI) — acquired Desert Electrical Supply and Pomona Wholesale Electric.

Applied Industrial Technologies announced Nov. 22 that it will acquire Hydradyne.

Alternative investment firm H.I.G Capital said an undisclosed portfolio company acquired Northwest Pump and Equipment Co.

Houston-based PVF, MRO and industrial supplies distributor DNOW acquired Trojan Rentals LLC.

What’d We Miss?

Of course, the list above doesn’t encompass every M&A deal announced during October for relevant distributors. 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 [email protected].

• Here's our 3Q24 M&A Report (Premium)
• Here’s our 2Q24 M&A Report (Premium)
• Here’s our 1Q24 M&A Report (Premium)
  • These three Premium reports are also available for purchase in the MDM Store
• Here’s our October M&A Roundup
• Here’s our September M&A Roundup
• Here’s our August M&A Roundup