CHICAGO — Distribution Solutions Group Inc. announced Wednesday that its operating company TestEquity completed its acquisition of Instrumex, a leading test and measurement provider.
“I am excited to announce the acquisition of Instrumex, a leading provider of professionally refurbished general purpose test and measurement equipment based in Germany,” said Russ Frazee, CEO of TestEquity. “This strategic acquisition expands our capabilities in the continental European market and is expected to be accretive to earnings of TestEquity and our parent company, DSG.”
“Joining TestEquity is an exciting next step for Instrumex, greatly expanding our resources and capabilities, while helping TestEquity grow its footprint and level of service in Europe,” said Jill Nielsen, managing director of Instrumex.
Instrumex is expected to generate annual sales as part of TestEquity of more than $6 million with annual Adjusted EBITDA of at least $1 million. The acquisition is being funded through DSG’s existing credit facility.