Mayer Brown is representing LKCM Headwater Investments, LLC in connection with a definitive merger agreement under which newly formed entities controlled by LKCM Headwater will acquire all outstanding shares of common stock of Distribution Solutions Group, Inc. (DSG) not already owned by LKCM Headwater and its affiliates for $35.00 per share in cash.
LKCM Headwater and its affiliates currently own approximately 79% of DSG’s outstanding common stock. Upon completion of the transaction, DSG will become a privately held company 100% controlled by LKCM Headwater and its affiliates, and its common stock will no longer be listed on Nasdaq.
In connection with the execution of the merger agreement, DSG entered into an amendment to its existing credit agreement, pursuant to which, subject to the terms and conditions of the Company’s credit agreement, proceeds of revolving loans may be used to finance the transactions contemplated by the merger agreement.
The Mayer Brown team included Finance partners Fred Fisher, Adam Wolk, and Brian Kent and Corporate & Securities partners Andrew Noreuil and Ryan Ferris in the firm’s Chicago and New York offices.
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