Singer Industrial, formerly SBP Holdings, made its first acquisition of 2023 after making several bolt-ons in 2022.
Distributors have consistently voiced market optimism in recent months, but one of the leading economic indicators is cause for concern.
DSG will pay $269 million at closing for Hisco, which was No. 39 on MDM’s 2022 Top Industrial Distributors list.
The St. Louis-based waterworks and industrial supplies distributor posted record sales in its fiscal 2022 that ended in late January.
The acquisition is PPG’s second under the ownership of Auxo Investment Partners, which acquired the brand in September 2020.
The organization’s newly elected director is François Deschênes, who is President & CEO of Deschênes Group Inc.
The transaction between the chemicals and food ingredients distributor and private equity firm Apollo is expected to close in the second half of 2023.
The financials included results for Varis, the company’s new B2B marketplace launched during 2022’s fourth quarter.
The deceleration was expected after Ferguson posted 16.6% year-over-year sales growth in 1Q.
It was a deceleration from January’s 11.2% growth, but another solid month nonetheless.
Net sales increased 7% year-over-year in 3Q, down significantly from 2Q sales growth of 24.4%.
The acquisitions come a month after Imperial Dade added Fresno, California-based Focus Packaging & Supply and 14 deals announced in 2022.
