Strategic Buyers Drive Recovery

‍M&A activity in the distribution sector rebounded in Q3 2025, led by strategic acquirers leveraging balance sheet strength to consolidate markets and expand vertically. Industrial and Building Products segments were particularly active, benefiting from onshoring and supply chain diversification trends. Valuations ticked higher, though multiples remain below pre-2022 levels, reflecting disciplined pricing in a still-cautious market.

Looking ahead, strategic growth, reshoring initiatives, and digital transformation are expected to continue shaping deal activity.

Read the full Q3 2025 Distribution update for more insights.