Distribution Solutions Group rises on deal to acquire specialty distributor Hisco

Hornbeck Offshore Services

31/03/2023 15:45

** Shares of Distribution Solutions Group Inc  DSGR.O  up
~4% at $42.86 in morning trading
    ** Co to acquire specialty distribution firm HIS Company Inc
(Hisco) in a $269.1 mln deal with an earn-out option of $12.6
mln
    ** Says it will combine operations of its electronic test &
measurement solutions business TestEquity and Hisco, post
transaction
    ** In retention bonuses, DSGR to pay $37.5 mln in cash or
its stock to some Hisco employees
    ** Deal to be funded with a combination of DSGR's expanded
credit facility and about $100 mln equity offering to existing
shareholders - co
    ** Including session gains, shares up ~13% YTD

 (Reporting by Yamini Kalia)
 ((Yamini.Kalia@thomsonreuters.com))