Distribution Solutions Group's Operating Company, Lawson Products, Signs Agreement To Acquire Source Atlantic Limited; No Terms Dislosed

Source Atlantic, headquartered in Saint John, New Brunswick, Canada, is an industry-leading wholesale distributor of industrial MRO supplies, safety products, fasteners, and related value-add services for the Canadian MRO market. For the most recent fiscal year, Source Atlantic generated sales of approximately CAD$250 million.

The transaction will be funded through a combination of DSG's existing cash and availability under its credit facility and is expected to be immediately accretive to DSG's adjusted earnings per share.

The acquisition is not expected to be material for financial reporting purposes to DSG's results. The transaction is expected to close in the third quarter of 2024, subject to regulatory approval and customary closing conditions.