TestEquity acquires German test equipment provider
TestEquity, the operating company of Chicago-based Distribution Solutions Group Inc., has completed its acquisition of Instrumex, a test and measurement provider of reconditioned test equipment based in Munich, Germany.
“I am excited to announce the acquisition of Instrumex, a leading provider of professionally refurbished general purpose test & measurement equipment based in Germany,” said Russ Frazee, TestEquity CEO. “[It] expands our capabilities in the Continental European market and is expected to be accretive to earnings of TestEquity and our parent company, DSG.”
Jill Nielsen, managing director of Instrumex, added, “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.
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.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
