Bolsters its Position in the Automotive Repair
Parts Market
Distribution Solutions Group, Inc. (NASDAQ:DSGR) ("DSG" or
the "Company"), a premier specialty distribution company, today
announced that its operating company, Lawson Products, Inc.
(“Lawson”), completed the acquisition of S&S Automotive, Inc.
(“S&S”), a leading automotive and industrial parts supplier
based near Chicago in Woodridge, IL. Lawson Products has an
automotive-focused division, Kent Automotive, which distributes
automotive and industrial class C-parts to auto dealerships and
collision repair centers throughout North America.
“Similar to Lawson’s Kent Automotive business, S&S
Automotive is an industry-leading distributor in the automotive
dealership market,” said Cesar Lanuza, President & Chief
Executive Officer of Lawson Products. “We’re very excited to
announce this acquisition that leverages the best of both
companies. On a combined basis, S&S and Kent Automotive will
enhance our ability to serve customers with auto-related supplies
and tools, as well as vendor-managed inventory (VMI) services to
dealerships and collision repair customers in this growing
market.”
James Hruska, Jr., President of S&S Automotive, commented,
“We are excited to join Lawson Products and their Kent Automotive
business to drive the expansion of their automotive consumable
products, solutions, and services to dealerships and collision
repair facilities. S&S customers, suppliers, and employees will
benefit from partnering with Kent Automotive by attracting new
customers, leveraging Lawson’s valuable vendor-managed inventory
services, and expanding our available product offering and
geographic reach into a larger distribution network.”
S&S Automotive, with annual revenues of approximately $40
million, was funded through a combination of DSG’s cash and its
available credit facility, and it is expected to be accretive to
DSG’s adjusted EPS and EBITDA margins.
About Distribution Solutions Group,
Inc.
Distribution Solutions Group ("DSG") is a premier multi-platform
specialty distribution company providing high touch, value-added
distribution solutions to the maintenance, repair & operations
(MRO), the 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 approximately 180,000 customers in
several diverse end markets supported by approximately 3,700
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 Lawson Products, Inc.
Lawson Products (Lawson) is the solution to all MRO needs. Since
1952, Lawson has been helping make customers’ jobs easier by
improving efficiency, productivity, and overall performance. Lawson
is dedicated to helping customers in the U.S. and Canada lower
their total cost of operation by increasing productivity and
efficiency. Lawson provides customers with a seamless and
personalized experience and understands that different businesses
have unique requirements and offers a range of services tailored to
meet your needs. Lawson offers vendor-managed inventory services
and online purchasing or supports customers through a dedicated
inside sales team and ships from several strategically located
distribution centers to customers in all 50 states, Puerto Rico,
Canada, Mexico, and the Caribbean.
About S&S Automotive, Inc.
Since 1960, S&S Automotive, Inc. (S&S) has become the
Midwest’s premier automotive distributor. S&S provides assembly
and installation services including shop supplies, electrical,
repair tools, paints, chemicals, abrasives, and other products to
the automotive dealership market. By meeting and exceeding customer
expectations, the dedicated S&S team is committed to providing
the right service with the right products at the right time.
Strategically headquartered in the Chicago, IL metro area, the
Company has additional facilities throughout Illinois and in
Wisconsin and Indiana.
Forward-Looking Statements
This release contains certain "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. Terms such as "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 variations of
them and other words and terms of similar meaning and expression
(and the negatives of such words and terms) 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. 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, DSG's Quarterly
Reports on Form 10-Q and DSG's Current Reports on Form 8-K, which
should be reviewed carefully. 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) unanticipated difficulties, expenditures or any problems
arising in connection with or after the combination of the
businesses of Lawson Products, TestEquity and Gexpro Services (the
"merger"), which may result in DSG not operating as effectively and
efficiently as expected; (ii) the risk that stockholder litigation
in connection with the merger or any other acquisition or business
combination completed by DSG or any of its subsidiaries results in
significant costs of defense, indemnification and liability; and
(iii) the risks that DSG may encounter difficulties integrating the
business of DSG with the business of other companies that DSG has
acquired or may acquire or has otherwise combined with or may
otherwise combine with, that DSG may not achieve the anticipated
synergies contemplated with respect to any such business or
transactions and that certain assumptions with respect to such
business or transactions could prove to be inaccurate.
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version on businesswire.com: https://www.businesswire.com/news/home/20240501513653/en/
Company: Distribution Solutions Group, Inc. Ronald J.
Knutson Executive Vice President, Chief Financial Officer and
Treasurer 1-888-611-9888 Investor Relations: Three Part
Advisors, LLC Steven Hooser / Sandy Martin 214-872-2710 /
214-616-2207
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