Value-Added Distribution operators with established vendor relations, distribution channels, and diversified product offerings remain active in the merger and acquisition (M&A) marketplace on the heels of attractive valuations and the availability of relatively cheap capital. Due to the need for continued growth, leading industry players continue to prioritize overall goodness of fit when analyzing a potential bolt-on opportunity. Further, industry operators are more inclined to shy away from commodity oriented distributors, (due to increasing margin pressure from Amazon and others), instead of pursuing value-added and differentiated offerings.