After a quiet February in M&A activity across the market, things have picked up in March and led news content on ID lately with announced acquisitions by Fastenal and Applied Industrial Technologies, while Lincoln Electric is in talks to buy Air Liquide Welding.
Here's this week's Top 5
Fastenal To Acquire Michigan-Based Manufacturer's Supply Co.: Located outside of Grand Rapids, MI, Manufacturer's Supply Company builds a market presence for Fastenal with commercial furniture OEMs, while also boosting its footprint in northern Alabama and southern Texas along the Mexico border.
Genuine Parts, Motion Industries Seek More Acquisitions In 2017: Jack Keough discusses GPC chief executive Paul Donahue's recent comments regarding the company's outlook for M&A activity and recaps 2016 additions to subsidiaries (and ID Big 50 companies) Motion Industries and EIS Inc.
In February, Fastenal Had Its Best Daily Sales Growth In 14 Months: Fastenal's February had year-over-year gains in fastener sales, and sales to non-residential construction customers — each reversing six straight quarters of decline. February was by far the company's best month for daily sales since January 2015.
Lincoln Electric In Talks To Acquire Air Liquide Welding: Lincoln Electric and Paris, France-based Air Liquide both announced last Thursday that the companies have signed a memorendum of understanding and entered into negotiations for Lincoln Electric to acquire Air Liquide subsidiary Air Liquide Welding, which has approximately 2,000 employees worldwide and generated a 2016 turnover of about $370 million.
Applied Grows Midwest Presence, Acquires Sentinel Fluid Controls: Toledo, OH-based Sentinel is a distributor of hydraulic and lubrication components, systems and solutions, with additional locations in Indiana, Illinois, Michigan and Wisconsin.