Distribution Solutions Group, Inc. (NASDAQ: DSGR) has announced the completion of its acquisition of Source Atlantic Limited, a move that was funded by the company's senior secured credit facility. In addition to this acquisition, the company has also expanded its credit facility, increasing its borrowing capacity from $805 million to $1.06 billion. Of this total, $255 million is structured as a revolving credit facility, while $805 million is structured as a senior secured loan.
Distribution Solutions Group, Inc. is a multi-platform specialty distribution company that serves the maintenance, repair, and operations (MRO), original equipment manufacturer (OEM), and industrial technologies markets. Through its strategic combination of Lawson Products, Gexpro Services, and TestEquity, the company aims to provide high-touch, value-added distribution solutions to its customers.
The company has approximately 3,700 dedicated employees and serves around 180,000 customers across diverse end markets. It operates distribution and service centers strategically located in North America, Europe, Asia, South America, and the Middle East.
These developments signify a significant expansion and financial strengthening for Distribution Solutions Group, Inc., enabling it to further solidify its position as a premier specialty distribution company in the global market. Following these announcements, the company's shares moved 0.8%, and are now trading at a price of $34.54. For the full picture, make sure to review Distribution Solutions's 8-K report.
