In Q1 of 2024, M&A activity in the distribution sector has centered around publicly traded strategic buyers. A notable example is the industrial distribution deal involving Home Depot's acquisition of SRS Distribution, as highlighted in recent headlines. These buyers have the financial flexibility needed to identify and pursue companies with exceptional profitability and growth potential, despite the challenging financial landscape. Share performance for major publicly traded distribution companies has seen strong performance in Q1 and is anticipated to continue a strong trajectory throughout 2024.