The Globe and Mail reports in its Tuesday edition that Brookfield Asset Management is paying $1.6-billion to acquire Gregg Distributors LP, a family-owned provider of industrial products to thousands of businesses across Western Canada. The Globe's James Bradshaw writes that Edmonton-based Gregg was founded in 1968 and sells a broad variety of products for maintenance, repair and operations to companies and municipalities that span sectors such as automotive, agriculture, energy and construction. Gregg's catalogue includes a diverse array of products such as power tools, hoses, safety equipment, industrial chemicals, first-aid supplies, lighting and automotive parts that are sourced from about 500 suppliers. That makes it a fit for Brookfield's private-equity business, which has focused on buyouts of industrial companies and providers of essential services. Private-equity investors are focusing increasingly on acquiring companies that have physical assets and steady demand as software companies are struggling, faced with potential disruption from makers of artificial intelligence tools. Gregg's roster of roughly 20,000 customers includes multiple companies in which Brookfield has previously made investments.