Distribution Solutions Group, Inc. (NASDAQ:DSGR), a specialty distributor providing high-touch, value-added distribution solutions to the maintenance, repair and operations (MRO), original equipment manufacturer (OEM) and industrial technologies markets, announced sales for the third quarter 2022 ended Sept. 30, 2022, were up 162.8% to $347.1 million due to the consolidation of results for Lawson Products, Gexpro Services and TestEquity.
Organic sales growth was 15% due to price and volume increases.
“These results support our confidence in the strategic combination of Lawson Products, Gexpro Services and TestEquity earlier this year,” said Bryan King, CEO. “Each of the operating companies had strong performance during the quarter on significant sales growth over the year-ago quarter with solid sequential sales increases over the second quarter of 2022. The leadership teams of all three companies are demonstrating outstanding focus on sales growth, leveraging best practices and driving incremental cost synergies. We are excited about the future of these best-in-class specialty distributors and believe we can drive significant value creation for all shareholders.”