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Lawson Products, Inc., founded in 1952 and headquartered in Chicago, IL, is a key player in the maintenance, repair, and operations (MRO) market. The company serves industrial, commercial, institutional, and government sectors across the U.S. and Canada. Lawson Products focuses on reducing customers' operational costs by enhancing productivity and efficiency through a comprehensive range of specialty products.
The company's portfolio includes Lawson and Partsmaster's Managed Inventory process, a system designed to ensure customers always have the necessary parts at hand. Their problem-solving professionals play a vital role in this process, providing expert advice and solutions tailored to specific operational needs.
Additionally, through The Bolt Supply House, Lawson Products caters to customers in Western Canada, offering a wide variety of products across several branch locations. The company's Kent Automotive brand delivers collision and mechanical repair products to the automotive aftermarket, further diversifying its market reach.
Recent achievements include strategic partnerships and continuous efforts to expand their product range and improve service quality. Financially, Lawson Products has maintained a stable performance, reflecting its commitment to operational excellence and customer satisfaction.
For the latest updates on Lawson Products, including recent developments and performance metrics, stay tuned to their news feed.
Lawson Products (NASDAQ:LAWS) has partnered with Green Boom to introduce the world's first zero-waste solution for oil spills. The innovative product is both EPA and USDA-certified and fully compostable, aiming to replace current toxic plastic-based alternatives. This partnership seeks to address the significant environmental impact caused by oil spills, which result in 8,000 tons of oil-soaked plastic waste annually. Green Boom's eco-friendly absorbent can be composted in weeks, eliminating the need for toxic landfills. The collaboration highlights a shared commitment to sustainability and aims to transform the oil spill cleanup industry by offering a sustainable, effective, and affordable solution.
Lawson Products has announced a name change to Distribution Solutions Group, Inc. (DSG) effective May 9, 2022, along with a new ticker symbol, DSGR, for trading on NASDAQ. This change reflects the company's evolution into a best-in-class specialty distribution company, combining Lawson Products, TestEquity, and Gexpro Services.
CEO J. Bryan King expressed excitement about this transformation, emphasizing a strong leadership position and commitment to leveraging capabilities for growth. An investor conference call is scheduled for today at 11:00 am ET.
Lawson Products, Inc. (NASDAQ: LAWS) announced that its subsidiary, TestEquity, has acquired Interworld Highway, LLC for approximately $55 million. This transaction is expected to be immediately earnings accretive, enhancing Lawson's product offerings in electrical testing with TEquipment. The acquisition is projected to generate annual sales exceeding $110 million and annual adjusted EBITDA over $7 million. Lawson aims to leverage synergies from this acquisition to strengthen its customer value proposition in the test and measurement sector.
Lawson Products reported first-quarter 2022 results with net sales increasing by 13.8% year-over-year to $117.9 million. The quarter saw a reported operating income of $12.1 million, a notable recovery from a loss in the previous year. Average daily sales improved by 12.0% to $1.842 million. Despite a decrease in gross margin to 51.3%, driven by inflation and cost increases, adjusted net income remained robust at $5.3 million, or $0.57 per diluted share. The company aims for continued growth amid supply chain challenges and inflation.
Lawson Products will report its Q1 2022 results on
Lawson Products (NASDAQ: LAWS) announces two strategic acquisitions by Gexpro Services to enhance its capabilities in the renewable energy market. The first acquisition, Resolux Group, was completed on
Lawson Products, Inc. has appointed Matt Boyce as the new Senior Vice President of Corporate Development. With over 15 years of experience in corporate development, Boyce will spearhead acquisition and integration initiatives to enhance growth across Lawson, TestEquity, and Gexpro Services. Chairman J. Bryan King expressed confidence in Boyce's capabilities, noting his previous success in M&A strategies. Boyce aims to strengthen the companies' positions in their markets and increase long-term shareholder value.
Cesar Lanuza has been appointed as the new President and CEO of Lawson Products, effective April 4, 2022, succeeding Michael G. DeCata, who will retire after a transitional period through May 1, 2022. Lanuza, with 30 years of industry experience, aims to enhance revenue growth and profitability. His leadership will focus on expanding Lawson's offerings through strategic combinations with TestEquity and Gexpro Services. The Board has expressed gratitude for DeCata's contributions during his tenure and optimism for Lawson's future under Lanuza's direction.
Lawson Products (NASDAQ: LAWS) announced the successful completion of its merger with TestEquity and Gexpro Services, creating a new specialty distribution platform. Lawson issued 10.3 million shares to the former owners, resulting in LKCM and Chairman J. Bryan King's entities owning approximately 75% of the company. The merger aims to enhance earnings and cash flow while leveraging operational efficiencies across the combined entities. Additionally, Lawson amended its credit agreement to include a $200 million revolving credit facility and a $250 million term loan for future acquisitions.
Lawson Products, Inc. (NASDAQ: LAWS) announced that its stockholders approved merger agreements with TestEquity and Gexpro Services at a special meeting on March 15, 2022. This approval fulfills the stockholder approval condition necessary for the mergers, which are expected to close in the second quarter of 2022. However, completion is still subject to additional conditions, including securing adequate debt financing for transaction-related expenses. This merger aims to enhance Lawson's capabilities in the MRO marketplace.
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