Expands Test Equipment Expertise and
Capabilities in Continental Europe
Distribution Solutions Group, Inc. (NASDAQ: DSGR) (“DSG” or
the “Company"), a best-in-class, specialty distribution company
announced today that its operating company, TestEquity, completed
its acquisition of Instrumex, a leading test and measurement
provider of reconditioned test equipment based in Munich,
Germany.
“I am excited to announce the acquisition of Instrumex, a
leading provider of professionally refurbished general purpose test
& measurement equipment based in Germany,” said Russ Frazee,
Chief Executive Officer of TestEquity. “This strategic acquisition
expands our capabilities in the Continental European market and is
expected to be accretive to earnings of TestEquity and our parent
company, DSG.”
“Joining TestEquity is an exciting next step for Instrumex,
greatly expanding our resources and capabilities, while helping
TestEquity grow its footprint and level of service in Europe,” said
Jill Nielsen, Managing Director of Instrumex.
Instrumex is expected to generate annual sales as part of
TestEquity of more than $6 million with annual Adjusted EBITDA of
at least $1 million. The acquisition is being funded through DSG’s
existing credit facility.
About Distribution Solutions Group,
Inc.
Distribution Solutions Group (“DSG”) is a best-in-class
specialty distribution company providing high touch, value-added
distribution solutions to the maintenance, repair & operations
(MRO), original equipment manufacturer (OEM) and the industrial
technologies markets. DSG was formed through the strategic
combination of Lawson Products, a leader in MRO distribution of
C-parts, Gexpro Services, a leading global supply chain services
provider to manufacturing customers, and TestEquity, a leader in
electronic test & measurement solutions.
Through its collective businesses, DSG is dedicated to helping
customers lower their total cost of operation by increasing
productivity and efficiency with the right products, expert
technical support, and fast, reliable delivery to be a one-stop
solution provider. DSG serves 120,000+ long-standing customers in
several diverse end markets supported by more than 3,000 dedicated
employees and strong vendor partnerships. DSG ships from
strategically located distribution and service centers to customers
in North America, Europe, Asia, South America and the Middle
East.
For more information on Distribution Solutions Group please
visit www.distributionsolutionsgroup.com.
About TestEquity
TestEquity® is a leading distributor focused on providing the
largest and highest quality selection of test and measurement
equipment and solutions, electronic production supplies, and tool
kits from its leading manufacturer partners supporting the
technology, aerospace, defense, automotive, electronics, education,
and medical industries. TestEquity also designs a full line of the
industry’s highest-quality environmental test chambers. Serving
electronic design and test engineers as well as maintenance
technicians, industrial manufacturing assembly, and the
telecommunication repair community, TestEquity features more than
200,000 products from over 600+ manufacturer brands. TestEquity
continues to benefit from ubiquitous electronification of all types
of products across most industries including IOT, EV, and 5G. For
more information, visit www.testequity.com.
About Instrumex
Based in Munich, Germany, Instrumex is a quality source of
professionally refurbished test and measurement equipment since
1986. Offering a wide selection of general equipment from most
leading manufacturers, Instrumex provides the highest level of
service to its customers including certified repair and
calibration. Serving customers across Europe, North America, and
Asia, Instrumex provides a highly consultative process to help
customers find the right solution for their test and measurement
needs. Learn more at www.instrumex.de.
Forward-Looking
Statements
This Press Release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, that involve risks and uncertainties. The terms “aim,”
“anticipate,” “believe,” “contemplates,” “continues,” “could,”
“ensure,” “estimate,” “expect,” “forecasts,” “if,” “intend,”
“likely,” “may,” “might,” “objective,” “outlook,” “plan,”
“positioned,” “potential,” “predict,” “probable,” “project,”
“shall,” “should,” “strategy,” “will,” “would,” and other words and
terms of similar meaning and expression are intended to identify
forward-looking statements. Forward-looking statements can also be
identified by the fact that they do not relate strictly to
historical or current facts. Such forward-looking statements are
based on current expectations and involve inherent risks,
uncertainties and assumptions, including factors that could delay,
divert or change any of them, and could cause actual outcomes to
differ materially from current expectations. Distribution Solutions
Group, Inc. ("DSG") can give no assurance that any goal or plan set
forth in forward-looking statements can be achieved and DSG
cautions readers not to place undue reliance on such statements,
which speak only as of the date made. DSG undertakes no obligation
to release publicly any revisions to forward-looking statements as
a result of new information, future events or otherwise. Actual
results may differ materially from those projected as a result of
certain risks and uncertainties. Certain risks associated with
DSG’s business are also discussed from time to time in the reports
DSG files with the SEC, including DSG’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2021, DSG’s Quarterly
Reports on Form 10-Q and DSG’s Current Reports on Form 8-K. In
addition, the following factors, among others, could cause actual
outcomes and results to differ materially from those discussed in
the forward-looking statements: (i) whether or not the terms of the
earnout provisions in either of the merger agreements will be
satisfied such that DSG would be required to issue additional
shares of DSG common stock in connection with the mergers; (ii)
unanticipated difficulties or expenditures relating to the mergers;
(iii) the risk that stockholder litigation in connection with the
mergers results in significant costs of defense, indemnification
and liability; and (iv) any problems arising in combining the
businesses of Lawson, TestEquity and Gexpro Services, which may
result in the combined company not operating as effectively and
efficiently as expected.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221206006070/en/
Company Contact: Distribution Solutions Group Ronald J.
Knutson Executive Vice President and Chief Financial Officer
773-304-5665
Investor Relations Contacts: Three Part Advisors, LLC
Steven Hooser or Sandy Martin 214-872-2710
Distribution Solutions (NASDAQ:DSGR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Distribution Solutions (NASDAQ:DSGR)
Historical Stock Chart
From Jul 2023 to Jul 2024