DSGR - DSG buys Hisco for $269.1M in push to strengthen industrial equipment portfolio

2023-03-31 10:58:28 ET

• Distribution Solutions Group ( NASDAQ: DSGR ) said Friday it would buy Hisco, a specialty distribution company serving the electronic assembly, aerospace and defense, medical, and other industrial markets, for $269.1 million.

• The company said it will combine the operations of TestEquity and Hisco as part of the transaction.

• The company anticipates funding the deal using money from its expanded committed credit facility and by raising about $100 million of equity through a rights offering to existing stockholders .

• The deal also includes a potential additional earn-out payment of up to $12.6 million, if Hisco achieves certain performance targets.

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