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Distribution Solutions Group Announces Closing of Source Atlantic Acquisition and Expansion of Its Credit Facility
FORT WORTH, Texas--(BUSINESS WIRE)-- Distribution Solutions Group, Inc. (NASDAQ: DSGR) ("DSG" or the "Company"), a premier specialty distribution company,
About this update from Distribution Solutions Group, Inc.
[{"type":"text","content":" FORT WORTH, Texas--(BUSINESS WIRE)--\nDistribution Solutions Group, Inc. (NASDAQ: DSGR) (\"DSG\" or the \"Company\"), a premier specialty distribution company, today announced the closing on its previously announced agreement to acquire Source Atlantic Limited (“Source Atlantic”) which was funded by the Company’s senior secured credit facility.\n\n\nAdditionally, on August 14, 2024, the Company entered into an amendment to its Amended and Restated Credit Agreement, dated April 1, 2022, increasing the borrowing capacity thereunder from $805 million to $1.06 billion, of which $255 million is structured as a revolving credit facility and $805 million is structured as a senior secured loan.\n\n\nAdditional information on the terms of the amendment can be found in a separate Current Report on Form 8-K to be filed with the Securities and Exchange Commission.\n\n\nAbout Distribution Solutions Group, Inc.\n\n\nDistribution Solutions Group, Inc. (\"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.\n\n\nThrough 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.\n\n\nFor more information on Distribution Solutions Group, please visit www.distributionsolutionsgroup.com.\n\n\nAbout Source Atlantic Limited\n\n\nSource Atlantic Limited is an innovative and industry-leading wholesale distributor driven by delivering value and exceptional service to customers in Canada. Sou...