Distribution Solutions Group Appoints Robert S. Zamarripa to its Board of Directors

Rhea-AI Summary

Distribution Solutions Group, Inc. (NASDAQ: DSGR) has appointed Robert S. Zamarripa to its Board of Directors. Zamarripa, a seasoned leader in specialty distribution with extensive experience in MRO and supply chain, previously founded OneSource Distributors. His addition aims to enhance DSGR's strategic initiatives. CEO Bryan King highlighted Zamarripa's industry knowledge as key to driving the company's growth. DSGR focuses on value-added distribution solutions, serving over 120,000 customers worldwide.

Positive

• Appointment of Robert S. Zamarripa to the Board may bring fresh leadership and strategic insights.
• Zamarripa's extensive industry experience could enhance the company's operational effectiveness.

Negative

• Potential concerns about continuity and experience gaps with the new board member.
• Dependence on the successful integration of strategic initiatives may pose risks.

CHICAGO--(BUSINESS WIRE)-- Distribution Solutions Group, Inc. (NASDAQ: DSGR) ("DSG" or the "Company"), a leading specialty distributor providing high touch, value-added distribution solutions to the maintenance, repair & operations (MRO), original equipment manufacturer (OEM) and industrial technologies markets appointed Mr. Robert S. Zamarripa to its Board of Directors.

Bryan King, CEO and Chairman of the Board, commented, “We are pleased to welcome Bob Zamarripa to our Board of Directors. Bob is a recognized industry leader and has held executive and Board-level advisory positions that broadly span specialty distribution, supply chain and MRO-related businesses. Bob’s extensive experience will help guide the advancement of our strategic initiatives and strengthen our businesses under Distribution Solutions Group. I look forward to working with Bob as we drive the DSG business forward.”

Robert S. Zamarripa founded OneSource Distributors and served as Chairman and Chief Executive Officer of OneSource until 2013. OneSource is a leading electrical, utility, and industrial automation distributor in the U.S. and Mexico with annual revenues in excess of $750 million. OneSource was ranked as one of the top 20 largest Electrical Distributors in the U.S. in 2011, as well as the second largest private company by revenue, which was headquartered in San Diego, California. OneSource was also recognized as the fifth largest Hispanic-owned business in the United States by Hispanic Business Magazine in 2011.

Mr. Zamarripa is currently on the Board of Flow Control Group, a KKR portfolio company. Past Board roles include IMARK Group and Source Alliance. Also, Zamarripa served as President and Chief Executive Officer of Sonepar’s West Region and served on various distributor advisory boards including Rockwell Automation, General Electric, Hubbell, ABB, Eaton Corporation, Pentair, Thomas and Betts, and Leviton Manufacturing Company. Zamarripa is a graduate of the University of California at Santa Barbara with a Bachelor of Arts.

About Distribution Solutions Group, Inc.

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

Through its collective businesses, DSG is dedicated to helping customers lower their total cost of operation by increasing productivity and efficiency with the right products, expert technical support and fast, reliable delivery to be a one-stop solution provider. DSG serves 120,000+ long-standing customers in several diverse end markets supported by more than 3,000 dedicated employees and strong vendor partnerships. DSG ships from strategically located distribution and service centers to customers in North America, Europe, Asia, South America and the Middle East.

For more information on Distribution Solutions Group please visit www.distributionsolutionsgroup.com.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risks and uncertainties. The terms “aim,” “anticipate,” “believe,” “contemplates,” “continues,” “could,” “ensure,” “estimate,” “expect,” “forecasts,” “if,” “intend,” “likely,” “may,” “might,” “objective,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “probable,” “project,” “shall,” “should,” “strategy,” “will,” “would,” and other words and terms of similar meaning and expression are intended to identify forward-looking statements. Forward-looking statements can also be identified by the fact that they do not relate strictly to historical or current facts. Such forward-looking statements are based on current expectations and involve inherent risks, uncertainties and assumptions, including factors that could delay, divert or change any of them, and could cause actual outcomes to differ materially from current expectations. DSG can give no assurance that any goal or plan set forth in forward-looking statements can be achieved and DSG cautions readers not to place undue reliance on such statements, which speak only as of the date made. DSG undertakes no obligation to release publicly any revisions to forward-looking statements as a result of new information, future events or otherwise. Actual results may differ materially from those projected as a result of certain risks and uncertainties. Certain risks associated with DSG’s business are also discussed from time to time in the reports DSG files with the SEC, including DSG’s (formerly Lawson Products, Inc.) Annual Report on Form 10-K for the fiscal year ended December 31, 2021, DSG’s Quarterly Reports on Form 10-Q and DSG’s Current Reports on Form 8-K. In addition, the following factors, among others, could cause actual outcomes and results to differ materially from those discussed in the forward-looking statements: (i) whether or not the terms of the earnout provisions in either of the merger agreements will be satisfied such that DSG would be required to issue additional shares of common stock in connection with the mergers; (ii) unanticipated difficulties or expenditures relating to the mergers; (iii) the risk that stockholder litigation in connection with the mergers results in significant costs of defense, indemnification and liability; and (iv) any problems arising in combining the businesses of Lawson Products, TestEquity and Gexpro Services, which may result in the combined company not operating as effectively and efficiently as expected to any forward-looking statements whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221122005899/en/

Investor Relations:

Distribution Solutions Group, Inc.

Ronald J. Knutson

Executive Vice President and Chief Financial Officer

773-304-5665

Investor Relations Contacts:

Three Part Advisors, LLC

Steven Hooser or Sandy Martin

214-872-2710

Source: Distribution Solutions Group, Inc.

FAQ

Who is the newly appointed board member of DSGR?

Robert S. Zamarripa has been appointed to the Board of Directors of Distribution Solutions Group, Inc. (DSGR).

What experience does Robert S. Zamarripa bring to DSGR?

Zamarripa has significant expertise in specialty distribution, having founded OneSource Distributors and held executive roles in various MRO-related businesses.

How might Zamarripa's appointment impact DSGR's strategic initiatives?

His extensive industry knowledge is expected to guide and strengthen DSGR's strategic initiatives for growth.