Barry Litwin appointed as TestEquity CEO effective July 14

FORT WORTH - Distribution Solutions Group, Inc. (NASDAQ:DSGR), a $1.28 billion market cap company with annual revenues of $1.87 billion, announced Monday that Barry Litwin has been appointed Chief Executive Officer of TestEquity, effective July 14, 2025. According to InvestingPro data, the company has demonstrated strong revenue growth of ~14% over the last twelve months.

Litwin succeeds Russ Frazee, who has served as TestEquity’s CEO since 2022. Frazee will continue supporting the company in an advisory role to ensure a smooth leadership transition. Wall Street analysts maintain a positive outlook, with price targets ranging from $36 to $39, suggesting potential upside from current levels.

From 2019 to 2024, Litwin served as CEO of Global Industrial Company, a $1.4 billion public company specializing in industrial and MRO products distribution. He holds a Bachelor of Science from Indiana University and an MBA in Operations Management from Loyola University’s Quinlan School of Business.

J. Bryan King, DSG’s Chairman and CEO, cited Litwin’s "ability to unlock value and drive execution" as key factors in the appointment. King also thanked Frazee for his seven-year tenure at TestEquity, during which time the business unit more than doubled in size.

Litwin stated his focus will be on "accelerating commercial growth, transforming our digital channel, expanding the reach of our managed services, and delivering a differentiated customer experience."

TestEquity is a distributor of test and measurement solutions, production supplies, and value-added services supporting engineers and technicians across the electronics lifecycle. The company serves sectors including aerospace, defense, medical, automotive, and advanced manufacturing.

Distribution Solutions Group was formed through the combination of Lawson Products, Gexpro Services, and TestEquity. The company serves approximately 200,000 customers globally with a workforce of about 4,400 employees.

This article is based on a press release statement from Distribution Solutions Group.

In other recent news, Distribution Solutions Group reported its first-quarter earnings, surpassing analyst expectations with adjusted earnings per share of $0.31 against the consensus of $0.25. However, the company fell short on revenue, reporting $478.03 million compared to the anticipated $500.2 million. Despite the revenue miss, the company experienced a 14.9% increase in sales from the same quarter last year, bolstered by $50.8 million from five acquisitions closed in 2024. Organic average daily sales also grew by 4.3% year-over-year. Adjusted EBITDA rose by 18.6% to $42.8 million, representing 9.0% of sales, an increase from 8.7% in the previous year. The company noted that without the impact of the Source Atlantic acquisition, the adjusted EBITDA margin would have been 9.6%. CEO Bryan King mentioned that the financial results met expectations despite macroeconomic uncertainties affecting U.S. companies. Additionally, DSG ended the quarter with total liquidity of $304.8 million and net debt leverage of 3.6x, while repurchasing $11.2 million worth of shares during the quarter.

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