Subsequent Event

6 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

Subsequent Event

Note 17 – Subsequent Event

On July 10, 2024, DSG announced that it signed an agreement to acquire Source Atlantic Limited (“Source Atlantic”). The transaction is expected to close in the third quarter of 2024, subject to regulatory approval and customary closing conditions, for a purchase price of approximately $105.0 million. 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. Source Atlantic generated sales of approximately $185.0 million during its most recent fiscal year. The acquisition of Source Atlantic is intended to expand DSG’s operating footprint in the Canadian market. The acquisition will be funded using DSG’s cash on hand and its revolving credit facility.