US investment firms show more interest in national wholesalers.

 

California-based private equity firm Platinum Equity, owner of Winc Australia/New Zealand, has purchased L&R Distributors, a US-based distributor of consumer products, including office supplies.

 

Based in New York, L&R services more than 17,000 locations across the US.

 

In addition to stationery and office supplies, the company also distributes cosmetics, hair products and toys from distribution centres in Arkansas, California and New Jersey.

 

"L&R has built an impressive national distribution platform with substantial opportunity for growth," Platinum Equity partner Jacob Kotzubei said. "The company has strong leadership and has made significant investments in technology and infrastructure. Our plan is to continue building scale organically and through strategic mergers and acquisitions that can expand the company's footprint and its customer and supplier base."

 

Last month, Genuine Parts Company completed the sale of national wholesaler S.P. Richards through two separate transactions. 

 

The company has sold S.P. Richards' core US operations and S.P. Richards' Supply Source Enterprises business to investor groups.

 

S.P. Richards is a national business products wholesaler that distributes more than 98,000 products to 9000 resellers and distributors throughout the US from a network of 44 locations.