MRO, OEM and industrial technologies supplies provider Distribution Solutions Group announced Dec. 13 that its board of directors has approved a common share repurchase authorization of $25 million. 

This authorization is in addition to approximately $4 million still available under previous authorizations. 

DSG said that, during its fiscal year 2023 to date, the distributor has repurchased approximately $3.6 million of its common stock.

“We continue to expect solid free cash flow generation in 2023 and 2024, which provides flexibility and liquidity to invest in growth, pay down debt and opportunistically repurchase our stock,” said Bryan King, DSG’s CEO and Chairman of the Board. “The board’s decision to expand DSG’s share repurchase program demonstrates our collective confidence in our strategic plan to drive profitable growth, generate long-term returns and create shareholder value. Our balance sheet remains strong, and this repurchase authorization fits into our broader capital allocation strategy.”

DSG was formed through the April 2022 merger of Lawson Products, Gexpro Services and TestEquity. The company was No. 27 on MDM’s 2023 Top Industrial Distributors List, and it acquired industrial supplies and equipment distributor Hisco in June for up to $319 million. Hisco was No. 39 on MDM’s Industrial List.