W.W. Grainger, Inc. (NYSE:GWW) is looking for M&A. Donald Macpherson said, "So on the M&A front, what I would say is, we are very much trying to be an organic-first growth company. That's -- we think we've got a long runway given the markets we're in to have organic growth. We would, in fact, if we're looking at M&A generally, we'd be looking at U.S. type acquisitions at this point.

We have not had much success with acquisitions outside North America. That's probably an understatement, although -- unless you count MonotaRO as part of that deal, that has been fantastically successful. So we are mostly focused on our core market in terms of thinking about M&A. But we're first focused on core growth and organic growth".