1st Half 2021 Specialty Distribution M&A update

Read more about the M&A activity in the distribution services sector

Stephen Guy

Stephen Guy

Managing Director, KPMG Corporate Finance LLC

+1 443-946-9789

Specialty distribution sector landscape

M&A Activity & Aggregate Deal Value: Q2-19 – Q2-21

  • Global aggregate deal value for the specialty distribution sector increased from $3.1bn during Q1-21 to $6.4bn in Q2-21, however the M&A deal volume witnessed a decline of 12.7% over the same period
  • In Q2-2021, reported U.S. aggregate M&A deal value totaled $4.6bn relative to $0.7bn reported during Q1-21
  • U.S. M&A activity for the specialty distribution sector has increased 5.5% in Q2-2021 compared to Q1-21
  • The U.S. accounted for 36.8% of global specialty distribution M&A activity as of Q2-21, up from 30.5% reported in Q1-21

Specialty Distribution Public Company Sector Overview

Sector LTM Trading Multiples Description
EV /
EV /
Automotive 2.41x 14.3x Omni-channel suppliers of aftermarket parts and accessories
Building Products 1.33x 14.5x Suppliers of products used in residential and commercial construction applications
Consumer Products 2.73x 19.6x Distributors of specialty residential products
Food Service 0.51x 17.6x Suppliers of food and non-food products to restaurants, hospitals, and schools and universities
Healthcare 0.93x 11.9x Providers of pharmaceuticals, medical supplies, equipment and devices 
Industrial 1.80x 16.6x B2B distributors of products, equipment, and supplies to a range of industrial applications 
Specialty Chemicals 3.20x 17.7x Suppliers of smaller volume chemical formulations used in specific applications

We hope you find this information valuable, and as always, feel free to reach out if you would like to discuss in further detail. To read the full report, download the PDF below.



The spike in Q4-2020 M&A value is attributed to The Home Depot’s acquisition of HD Supply Holdings, Inc., for $10.3bn. The deal constituted 69.6% of the U.S. aggregate deal value and 52.2% of global deal value in Q4-2020.


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