secwatch.observer — SEC 8-K summary
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Issuer:     Distribution Solutions Group, Inc. (DSGR)
CIK:        0000703604
Form:       8-K
Filed at:   2023-06-09T23:59:59+00:00
Accession:  0001193125-23-163984
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

DSG completes $269.1M acquisition of Hisco; funded via credit facility and equity offering
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- Paid $269.1M at closing; potential earn-out up to $12.6M based on Hisco's 2023 gross profit targets.
- Hisco had FY2022 sales >$400M and adjusted EBITDA ~$29M; acquisition expected to be accretive on adjusted basis in 2023.
- Also to pay $37.5M in retention bonuses to Hisco employees staying 12+ months after close.
- Financed via expanded credit facility (approx. $591.3M term loans outstanding) and equity rights offering.
- Combines Hisco's 38 locations with TestEquity to create one of largest electronics design/production suppliers.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/703604/000119312523163984/0001193125-23-163984-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/703604/000119312523163984/d511994d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-163984

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer