The third annual Global M&A Cross Border Conference met in Boston May 8–9 at the Boston Harbor Hotel. Drawing attendees from nearly 40 countries, the event addressed consolidation in the wholesale-distribution sector and featured prominent industry names such as The Home Depot and Wolseley plc.

The conference was hosted by investment bank Brown Gibbons Lang & Co.

The program's theme, "Closing Deals Around the World," summed up the main topic of conversation at the various panel discussions and networking sessions.

One such panel dealt with "Global Wholesale Distribution: Consolidating at an Accelerated Pace." James Miller, managing director and principal with Brown Gibbons Lang & Co., moderated the discussion. Miller said U.S. wholesale distribution is a $3.6 trillion sector.

"Mergers and acquisitions, especially in industrial distribution, has been one of the hotter sectors," Miller said.

"There's a lot of private-equity money looking for a home, and many see distribution as an interesting space," said Tom Ireland, of Clayton, Dublier and Rice USA. "There are a lot of things they can do with the business. There isn't one product or geographical location that can get you into trouble."

Jim McGibbon, director of strategic business development for The Home Depot, agreed, adding that, "We think the price we paid for Hughes Supply will not look as high in a few years."

The Home Depot has been one of the more prominent of American companies involved in acquisitions; it purchased Hughes earlier this year for $3.5 billion. So no one was surprised when McGibbon implied that HD is interested in more such acquisitions.

The M&A conference was previously held in Chicago and Venice. London will host the 2007 meeting.