As industrial distributors and manufacturers prepare to close the book on 2023’s third quarter — and as some prepare for three months of potentially slower sales growth — the pace of M&A activity has dipped again. For the month of September, MDM reported on 24 mergers and acquisitions involving distributors or relevant manufacturers in the industrial, commercial and building supply verticals. It was the fewest reported deals since July, which saw 23.

The number of monthly mergers and acquisitions has been inconsistent throughout 2023, as we noted last month. After 50 reported deals in January, the pace has fluctuated in the eight months since. In August, MDM reported 40 deals — tying April for the second most in a single month this year — following a relative slowdown in June (27) and July.

Private equity firm Gryphon Investors announced two acquisitions during the month, while Applied Industrial Technologies, Beacon, Allient (formerly Allied Motion), Imperial Dade, Singer Industrial, White Cap, Watsco and other MDM regular headliners also announced deals.

Read about all the deals from September by clicking the links below.

September M&A:

These are the M&A announcements — primarily involving distributors, but also manufacturers that sell through the channel — that MDM covered during September 2023 (click the headline for more details):

• Applied Acquires Bearings Distributors & Cangro Industries — In yet another milestone marking its yearlong 100th anniversary celebration, Cleveland, Ohio-based Applied Industrial Technologies announced Sept. 5 that it has acquired two providers of bearings, power transmission and industrial motion products.
• Beacon Acquires S&H Building Material Corp. in NY — On Sept. 5, construction and building materials distributor Beacon announced that it has completed the acquisition of Medford, New York-based S&H Building Material Corporation.
• CERATIZIT Acquires Round Tool Maker Xceliron in CA — On Sept. 14, Luxembourg-based CERATIZIT announced that it has acquired all shares of Xceliron Corp., a Chatsworth, California-based round tool manufacturer that provides special solid carbide tools for the aerospace and automotive industries.
• Formerly Allied Motion, Allient Acquires Sierramotion — On Sept. 25, Buffalo, New York-based manufacturer Allient Inc. — formerly known as Allied Motion Technologies Inc. — announced that it has acquired Sierramotion Inc., a privately-owned company specializing in designing and engineering turn-key motion components and mechatronic (mechanical, electrical and control) solutions for robotic, medical, industrial, defense, semiconductor and other precision applications.
• Gryphon Forms Thermal Technology Distribution Platform — Thermal Technology Distribution Solutions, a platform for the distribution of industrial temperature management and related products, has completed the acquisition of Big Chief Inc., an independent distributor of electric process heating and temperature control products for the industrial market.
• Gryphon to Acquire HVAC Supplier AirX Climate Solutions — On Sept. 27, middle-market private equity firm Gryphon Investors announced it has agreed to acquire AirX Climate Solutions, a manufacturer and distributor of specialty products for the heating, ventilation and air conditioning markets.
• Flexpak Expands Colorado Presence with Katzke Acquisition — On Sept. 1, packaging supplies distributor and supplier Flexpak LLC completed the acquisition of Katzke Packaging Co. and Packaging Converting.
• Harrington Process Solutions Acquired by Bain Capital — Chino, California-based Harrington Process Solutions — a specialty distributor of industrial flow control process solutions — on Sept. 7 announced that it has entered into a definitive agreement to be acquired by Bain Capital Private Equity.
• HVAC Wholesaler Heritage Distribution Acquires AMSCO Supply — On Sept. 26, Atlanta-based Heritage Distribution Holdings — the U.S. platform for global HVAC wholesaler Beijer Ref — announced that it agreed to acquire the assets of AMSCO Supply.
• Imperial Dade Acquires Quebec Distributor Ralik — On Sept. 8, JanSan and foodservice supply distributor Imperial Dade announced the acquisition of Blainville, Quebec-based Ralik, a distributor of paper goods, packaging materials and other safety and janitorial products.
• Iowa Spring Acquires Northeast Spring in Pennsylvania — On Sept. 18, precision spring manufacturer Iowa Spring announced that it has acquired Reading, Pennsylvania-based Northeast Spring.
• M. Holland Sells 3D Printing Unit to Japan Firm — Less than a month after announcing it would be acquired, thermoplastic resin distributor M. Holland said Sept. 19 that it is divesting its 3D Printing group to a Japanese firm.
• Polymers Maker Arclin Acquires Belle Chemical Company — Chemistry-based polymer technology manufacturer Arclin announced on Sept. 27 that it has completed the purchase of Belle Chemical Company, a producer of methylamines and derivatives located in Belle, West Virginia.
• Pye-Barker Fire & Safety Enters Iowa, Acquires 5 Locations — Atlanta-based Pye-Barker Fire — which provides fire protection, life safety and security products and services — announced Sept. 12 that is has acquired Iowa Fire Equipment Company, which serves 16 states throughout the Midwest and the state of Florida.
• Rockwell Automation to Acquire Clearpath Robotics — Rockwell Automation, Inc. announced it has signed a definitive agreement to acquire Ontario, Canada-based Clearpath Robotics Inc., a leader in autonomous robotics for industrial applications.
• Singer Industrial Acquires American Hose & Hardware — Dallas-based Singer Industrial — formerly SBP Holdings — announced it has “joined forces” with American Hose & Hardware Inc., which will operate within the Industrial Rubber Division of Singer Industrial.
• Southwire Acquires Genesis from Resideo — Wire and cable product manufacturer Southwire announced Sept. 19 that it has reached a definitive agreement with Resideo Technologies, Inc. to acquire its Genesis Wire & Cable business, a low-voltage wire and cable manufacturer based in Pleasant Prairie, Wisconsin.
• SRS Distribution Acquires Sunniland Corp. in U.S. Southeast — On Sept. 29, McKinney, Texas-based SRS Distribution Inc. announced that it has acquired Sanford, Florida-based Sunniland Corporation, a distributor of residential and commercial roofing products and related accessories.
• Triad Technologies Grows in Midwest, Acquires Tech-Syn — Ohio-based Triad Technologies — a fluid power products distributor owned by private equity group Shorehill Capital — announced that it completed the acquisition of Tech-Syn Corporation and its wholly owned subsidiaries.
• Wajax Acquires Ontario’s Beta Fluid Power & Beta Industrial — On Sept. 1, heavy equipment and industrial supplies distributor Wajax Corp. announced that it has acquired Sault Te. Marie, Ontario-based Beta Fluid Power Ltd. and Beta Industrial Ltd.
• Watsco Acquires Gateway Supply for $103M — On Sept. 6, Miami, Florida-based HVACR equipment distributor Watsco announced it has completed its acquisition of Gateway Supply Company, Inc., a distributor of plumbing and HVAC products based in Columbia, South Carolina.
• Univar Solutions Acquires FloChem in Eastern Canada — On Sept. 5, Downers Grove, Illinois-based specialty ingredients and chemicals distributor Univar Solutions Inc. announced it has acquired FloChem Ltd., a distributor of chemicals and related dispensing systems in Eastern Canada.
• Timken Acquires Filtration Supplier Des-Case — On Sept. 5, North Canton, Ohio-based bearings manufacturer Timken announced it has acquired Des-Case Corp., a Nashville-based manufacturer of specialty filtration products for industrial lubricants.
• White Cap to Acquire Concrete Products Distributor BrownCo — On Sept. 12, Atlanta-based White Cap — a distributor of specialty construction supplies and safety products for professional contractors — announced it has entered into a definitive agreement to acquire BrownCo Manufacturing & Sales, a distributor of specialty concrete products for commercial and highway and bridge contractors across Oklahoma.

See our roundups of the previous two months of M&A below:

• August
• July