September M&A Roundup: Lawson’s Latest Move Kicks Off Solid Month

September M&A Roundup: Lawson’s Latest Move Kicks Off Solid Month

Another month of the U.S. economy muddling through the COVID-19 crisis, another period of distribution M&A showing signs of returning to normal, beginning with a big announcement from Lawson Products.
On June 21, Amherst, New York-based Allied Motion Technologies, Inc., a manufacturer of precision and specialty controlled motion products, announced its acquisition of Airex, LLC. Airex is an electromagnetic components manufacturer based in Somersworth, New Hampshire. 

Another month of the U.S. economy muddling through the COVID-19 crisis, another period of distribution M&A showing signs of returning to normal.

September marked the second straight month of about a dozen deals in the space, and it started with a bang when MRO distributor Lawson Products Inc. announced the largest acquisition in company history, its $35.3 million addition of Partsmaster, a Greenville, Texas-based MRO solutions provider.

MDM went behind the deal in our most recent edition of MDM Premium with M&A in the Time of COVID-19: Lawson Products Executives Talk Business Growth Strategy Amid Upheaval.

In the piece, we spoke with Mike DeCata, president and CEO, and Brian Hoekstra, who joined the company as vice president, mergers and acquisitions about a year ago — and just a few months before M&A activity came to a standstill. Despite the industry-wide slowdown in deals, Hoekstra said the global pandemic didn’t change Lawson’s outlook or appetite for deals.

“COVID-19 hasn’t been fun for anybody, but it hasn’t changed the way that we are approaching M&A,” he said. “We’re still looking for businesses that make sense from a strategic perspective.”

September Deals

Will other acquirers also resume activity? Stay tuned to MDM for all the latest M&A activity and analysis on buy-side and sell-side trends. In the meantime, here is a roundup of all the deals from September, listed in reverse chronological order.

  • Snap-on Acquires AutoCrib — Snap-on Inc. (NYSE: SNA), Kenosha, Wisconsin, announced that it acquired AutoCrib Inc. for $36 million. Based in Tustin, California, with 2019 sales of approximately $30 million, AutoCrib is a designer, manufacturer and marketer of tool and asset control solutions. AutoCrib will be part of Snap-on’s Commercial & Industrial Group, effective with Snap-on’s 2020 fiscal fourth quarter.
  • Atlas Copco to Acquire U.S. Metrology Company — Swedish manufacturer Atlas Copco announced it has agreed to acquire Perceptron (Nasdaq: PRCP), a publicly traded supplier of automated metrology solutions, for SEK 630 million (US$68.9 million). Perceptron employs around 300 and is headquartered in Plymouth, Michigan. In the fiscal year 2020 Perceptron had revenues of SEK 569 million (US$62.3 million). The company will become part of Atlas Copco’s newly created division Machine Vision Solutions within the Industrial Technique business area.
  • SRS Distribution Acquires Two Companies — Building materials distributor SRS Distribution Inc., McKinney, Texas, announced that it has acquired two companies — CB Wholesale in Washington and RSI Building Products in Louisiana. Both companies specialize in the distribution of residential & commercial roofing, drywall and other related products. Financial terms of the agreements were not disclosed.
  • Foundation Building Materials Acquires Marriott Drywall Materials — Foundation Building Materials Inc. (NYSE: FBM), Santa Ana, California, announced that it has closed the acquisition of Marriott Drywall Materials Inc., an independent distributor of drywall and accessories, steel framing, insulation, tools and fasteners that has served the Greater Milwaukee, Wisconsin, area for 22 years. Financial terms of the transaction were not disclosed.
  • Industrial Valco Acquires Beric Valves — Los Angeles-based MRO master distributor Industrial Valco announced the acquisition of Beric Valves, a Houston-based producer of cast and forged steel gate, globe, check and ball valves, for the United States and its territories. Financial terms of the deal weren’t disclosed.
  • Brady Acquires Maryland Distributor Fitch Co. — Brady Industries, a Las Vegas-based full-line janitorial supply, equipment and foodservice distributor, announced the acquisition of Fitch Co., a Baltimore, Maryland-based distributor. Financial terms of the deal weren’t disclosed.
  • Motion Industries Acquires Motion Control & Automation Company — Motion Industries Inc., Birmingham, Alabama, a distributor of maintenance, repair, and operation replacement parts and a wholly owned subsidiary of Genuine Parts Co., announced that it has acquired Park Hills, Kentucky-based motion control and automation products and services supplier Applied Machine and Motion Control Inc. (AMMC). Financial terms of the deal weren’t disclosed.
  • Atlas Copco Completes MEDGAS Acquisition — Swedish manufacturer Atlas Copco announced that it completed its acquisition of MEDGAS-Technik GmbH, a German-based manufacturer, distributor, installer and service provider of medical air and medical vacuum systems, pipeline equipment and medical supplies. Financial terms of the deal weren’t disclosed.
  • Ingersoll Rand Acquires Pump Manufacturer Albin Pump — Ingersoll Rand Inc. (NYSE: IR), Davidson, North Carolina, completed its acquisition of Albin Pump SAS, headquartered in Montelimar, France. Financial terms of the deal weren’t disclosed.
  • AD, SafetyNetwork Finalize Merger, Creating AD Safety Network Division — Buying group AD, Wayne, Pennsylvania, on Tuesday announced it has finalized the merger agreement with Tampa, Florida-based SafetyNetwork, creating AD’s only safety-dedicated division focused on the growth of independent distributors specializing in the safety market. Financial terms of the agreement weren’t disclosed.
  • American Welding & Gas Acquires Bestway Welding Supply — Investment bank Matrix Capital Markets Group announced it has sold Houston-based Medical Gas Supply LLC, d/b/a Bestway Welding Supply, to American Welding & Gas Inc., Raleigh, North Carolina, an independently owned producer and distributor of industrial, medical and specialty gases. Financial terms of the deal weren’t disclosed.
  • Lawson Products Acquires Partsmaster — MRO distributor Lawson Products Inc. (Nasdaq: LAWS), Chicago, announced the acquisition of Partsmaster, a Greenville, Texas-based MRO solutions provider, for $35.3 million.

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!