M&A · Industrials · Wholesale-Machinery, Equipment & Supplies
LKCM TE Investors, LLC to acquire Lawson Products Inc
Announced Jan 4, 2022 · Closed Apr 4, 2022
Deal value—
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- LKCM TE Investors, LLC
- Target
- Lawson Products Inc (DSGR)
- Buyer type
- Private equity
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Apr 4, 2022
Deal protections
- Break fee (target pays)
- $6.0M
- Reverse fee (buyer pays)
- —
- Go-shop
- —
- Financing
- Committed · JPMorgan
Advisors
- To the acquirer
- Not disclosed
- To the target
- TD Cowen, William Blair
- William Blair fee
- $4.6M
Sector context · Industrials
- Comparable deals
- 51 in the prior 24 months
- Premium
- Sector median 40.0%
- EV / Adj. EBITDA
- Sector median 11.6x
- Break fee
- Sector median 2.8%
Timeline
- AnnouncedJan 4, 2022
- Proxy filedJan 14, 2022
- Definitive proxyFeb 10, 2022
- Shareholder voteMar 15, 2022
- ClosedApr 4, 2022
Valuation · fairness opinions
Discounted cash flow$24.86$42.63
Leveraged buyout$26.61$37.00
Premiums paid$22.09$30.84
Implied value per Lawson Products Inc share by analysis, from William Blair · DCF discount rate 9%–11%.