Subsequent Event

3 Months Ended

Mar. 31, 2024

Subsequent Events [Abstract]

Subsequent Event

Note 17 – Subsequent Event

On May 1, 2024, DSG completed the acquisition of S&S Automotive Inc. (“S&S”), with a preliminary purchase price of approximately $80.0 million. S&S is a distributor of automotive, industrial, and safety supplies to the automotive dealership market based near Chicago in Woodridge, Illinois that generates annual sales of approximately $40.0 million. S&S was acquired to expand Lawson’s automotive end market. The acquisition was funded using DSG’s cash on hand and its revolving credit facility.

Due to the recent acquisition date, the purchase accounting for S&S was not final at the time of this filing, and a preliminary allocation of consideration exchanged to the estimated fair values of assets acquired and liabilities assumed was not complete. The final valuation will be completed within the one-year measurement period following the acquisition date.