M&A Deal Summary

Distribution Solutions Group Acquires TestEquity

On December 29, 2021, Distribution Solutions Group acquired distribution company TestEquity from LKCM Headwater Investments

Acquisition Highlights
  • This is Distribution Solutions Group’s 10th transaction in the Distribution sector.
  • This is Distribution Solutions Group’s 7th transaction in the United States.
  • This is Distribution Solutions Group’s 2nd transaction in California.

M&A Deal Summary
Date 2021-12-29
Target TestEquity
Sector Distribution
Buyer(s) Distribution Solutions Group
Sellers(s) LKCM Headwater Investments
Deal Type Merger

Target

TestEquity

Moorpark, California, United States
TestEquity is a distributor of electronic test and measurement equipment as well as laboratory and production supplies. TestEquity is a source provider for test solutions and electronic production supplies. TestEquity was founded in 1971 and is based in Moorpark, California.

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Buyer(S) 1

Buyer

Distribution Solutions Group

Chicago, Illinois, United States
Category Company
Founded 1952
Sector Distribution
Employees3,700
Revenue 1.6B USD (2023)
DESCRIPTION

Distribution Solutions Group is a specialty distribution company providing high-touch, value-added distribution solutions to the maintenance, repair and operations (MRO), original equipment manufacturer (OEM) and the industrial technologies markets. DSG was formed through the strategic combination of Lawson Products, a leader in MRO and C-parts distribution, Gexpro Services, a global supply chain services provider to the OEM market, and TestEquity, a leader in electronic test and measurement solutions. Distribution Solutions Group was founded in 1952 and is based in Chicago, Illinois.

DEAL STATS #
Overall 10 of 14
Sector (Distribution) 10 of 12
Type (Merger) 2 of 2
State (California) 2 of 2
Country (United States) 7 of 10
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-29 Gexpro

Coppell, Texas, United States

Gexpro is a distributor of electrical parts and components for construction, industrial, and energy solutions markets. Gexpro Services supply a wide range of electrical supplies and productivity solutions for electricians, contractors, and industrial plants. Gexpro carries everything from lighting components, motors, circuit breakers, and tools to electrical wiring, conduit, automation solutions, and solar panels. Gexpro is based in Coppell, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-31 Hisco

Houston, Texas, United States

Hisco is a specialty distribution company serving the electronic assembly, aerospace, and defense, medical, and other industrial markets. The company delivers documented value creation to its nearly 10,000 customers through quality products, process solutions, and cost savings. It also offers specialized warehousing for cold storage and vendor-managed inventory services. Hisco is based in Houston, Texas.

Buy -

Seller(S) 1

SELLER

LKCM Headwater Investments

Investor Investor Investor Investor Investor

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

LKCM Headwater Investments is a private equity firm that seeks to partner with management teams to build successful companies. The Firm takes an operationally-minded approach and provides companies with the tools necessary to build market leaders with sustainable competitive advantages. LKCM generally pursues platform companies with $50 to $500 million and seeks to commit $5 to $80 million per transaction. Sectors of interest include industrial distribution/services, manufacturing, energy, financial services, and healthcare. LKCM Headwater is based in Fort Worth, Texas.

DEAL STATS #
Overall 3 of 3
Sector (Distribution) 2 of 2
Type (Merger) 2 of 2
State (California) 1 of 1
Country (United States) 3 of 3
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-29 Gexpro

Coppell, Texas, United States

Gexpro is a distributor of electrical parts and components for construction, industrial, and energy solutions markets. Gexpro Services supply a wide range of electrical supplies and productivity solutions for electricians, contractors, and industrial plants. Gexpro carries everything from lighting components, motors, circuit breakers, and tools to electrical wiring, conduit, automation solutions, and solar panels. Gexpro is based in Coppell, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-18 Knack Global

Woodbridge, New Jersey, United States

Knack Global is a provider of a portfolio of high-quality RCM services that allows healthcare businesses to focus on their core competencies of providing patient care. Knack’s portfolio of services spans the entire RCM value chain from Pre-Claim activities to Accounts Resolutions. Knack Global is based in Woodbridge, New Jersey.

Buy -
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