Fort Worth-based Distribution Solutions Group, Inc. (NASDAQ: DSGR), a specialty distribution company, announced its operating company TestEquity signed an agreement to acquire ConRes Test Equipment. The transaction is expected to close in the fourth quarter of 2024.
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ConRes Test Equipment offers rental, lease and sales of test and measurement equipment solutions. ConRes Test Equipment generates approximately $12 million in annual sales.
“We are thrilled to add a premier suite of products and services along with a talented employee base from ConRes TE,” said Russ Frazee, TestEquity’a president and CEO. “This acquisition is consistent with our focus to drive overall customer-intimacy by expanding and diversifying TestEquity’s test equipment offerings and value-add service capabilities in all of our end markets. Notably, it will broaden our technical expertise with a strong focus on used equipment and rental solutions, expanded calibration-repair capabilities, as well as an important ISO 17025 accredited lab in the Eastern U.S., staffed with in-house technicians able to scale our offerings and customer reach.”
Distribution Solutions Group’s 4,300 employees serve 190,000 customers in North America, Europe, Asia, South America and the Middle East.
TestEquity provides 300,000 products from 1,000 brands, encompassing test and measurement equipment, industrial assembly supplies and tool kits.
