Lawson Products Announces Name Change to Distribution Solutions Group, Inc. and Ticker Change to DSGR

Rhea-AI Summary

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.

Positive

• Successful rebranding to Distribution Solutions Group, Inc. enhances market presence.
• Combination of Lawson Products, TestEquity, and Gexpro Services positions DSG for organic and acquisition growth.
• Strong alignment with high-touch, specialty distribution in MRO and industrial markets.

Negative

• Potential stockholder litigation risks associated with mergers may incur significant costs.
• Uncertainty around satisfying earnout provisions could lead to additional share issuance.

Lawson Products, the Operating Company Name, Continues Unchanged

CHICAGO--(BUSINESS WIRE)-- Lawson Products, Inc. (NASDAQ: LAWS) (“Lawson Products”, “Lawson” or the “Company"), announced today its name change to Distribution Solutions Group, Inc. (DSG), a best-in-class, specialty distribution company, which includes operating companies, Lawson Products, TestEquity and Gexpro Services. The publicly traded Company changed its name to Distribution Solutions Group, Inc. “DSG” and also will be changing its ticker symbol and be trading on the NASDAQ under symbol “DSGR” commencing Monday, May 9, 2022. The Company will be hosting an investor conference call with prepared remarks and a question-and-answer session beginning today at 11:00am ET, and call-in and webcast instructions are below.

“We are excited to reach this next step in the evolution and transformation of these businesses, and believe that Distribution Solutions Group, tagline Powerful Solutions. Proven Results., exemplifies our strong leadership position that these brands represent in the high-touch, specialty distribution industry,” said J. Bryan King, Chairman and CEO of DSG. “Looking ahead, our Distribution Solutions Group companies provide industry leading capabilities, with distinct differentiators for selling, innovation and technologies across a shared platform. Our vision is to continue to leverage these unique platform capabilities, capitalize on end markets that have strong secular tailwinds, and accelerate organic and acquisition growth.”

Distribution Solutions Group Conference Call

• Conference Call by Phone: Dial 1-877-545-0523, using Passcode: 956031 at least 10 minutes before the call or call and ask to be joined into the Lawson Products call. A replay will be available through June 5th by dialing 1-877-481-4010 and using the conference ID: 45307#.

• Conference Call by Webcast, including an Investor Presentation: Connect to the webcast via the Events and Presentations page of Lawson Products Investor Relations website at: www.distributionsolutionsgroup.com, https://investor.lawsonproducts.com/news/events. Please log in at least 10 minutes in advance to register and download any necessary software. A replay will be available shortly after the call.

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), 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.

Cautionary Note Regarding Forward-Looking Statements

This Press Release 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. Lawson can give no assurance that any goal or plan set forth in forward-looking statements can be achieved and Lawson cautions readers not to place undue reliance on such statements, which speak only as of the date made. Lawson 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 Lawson’s business are also discussed from time to time in the reports Lawson files with the SEC, including Lawson’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, Lawson’s Quarterly Reports on Form 10-Q and Lawson’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 (related to TestEquity and Gexpro Services mergers) will be satisfied such that Lawson would be required to issue additional shares of Lawson 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, TestEquity and Gexpro Services, which may result in the combined company not operating as effectively and efficiently as expected.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220504006308/en/

Company Contact:

Lawson Products, 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: Lawson Products, Inc.

FAQ

What is the new name of Lawson Products?

Lawson Products has changed its name to Distribution Solutions Group, Inc. (DSG).

What is the new ticker symbol for Lawson Products?

The new ticker symbol for Lawson Products is DSGR, effective May 9, 2022.

When is the investor conference call for Lawson Products?

The investor conference call is scheduled for today at 11:00 am ET.

What companies are included in Distribution Solutions Group, Inc.?

Distribution Solutions Group, Inc. includes Lawson Products, TestEquity, and Gexpro Services.

What markets does Distribution Solutions Group serve?

DSG serves the maintenance, repair & operations (MRO), original equipment manufacturer (OEM), and industrial technologies markets.