Lawson Products Changes Name to DSG Solutions
Lawson Products, Inc. changed its name to Distribution Solutions Group, Inc. (DSG).
The specialty distribution company includes MRO c-parts distributor Lawson Products, OEM supply chain services provider Gexpro Services, and TestEquity, an electronic test & measurement solutions provider.
“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,” stated chairman and CEO J. Bryan King.
“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.”
Founded in 1952, Chicago-based Lawson Products distributes MRO products and services from facilities in all 50 states, as well as Puerto Rico, Canada, Mexico and the Caribbean. Lawson’s Bolt Supply House serves customers in Western Canada and the Kent Automotive brand supplies collision and mechanical repair products to the automotive aftermarket.
In the first quarter of 2022, Lawson Products reported sales, including fasteners, rose 13.8% to $117.9 million. Average daily sales grew 12.% to $1.84 million.
The integrated Lawson/Partsmaster sales grew 12.1% through price, volume and sales rep productivity. Realization of price increases instituted during 2021 and the first quarter of 2022 led to higher sales on a sequential basis and compared to the prior year quarter. The Bolt Supply House sales improved 26.9% from continued strength in branch location sales and a recovery of direct sales to oil and gas customers.
Q1 gross profit increased $5.9 million to $60.5 million, driven by higher sales. As a percentage of sales, reported gross margin decreased to 51.3%. Net income nearly tripled to $9 million.
DSG serves 120,000 customers supported by more than 3,000 employees. DSG ships from distribution and service centers to customers in North America, Europe, Asia, South America and the Middle East. Web: www.distributionsolutionsgroup.com
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