WESCO International explained

WESCO International, Inc.
Type:Public company
Former Name:Westinghouse Electrical Supply Company
Area Served:Worldwide
Key People:John Engel
(Chairman and CEO)
Num Employees:20,000[1]
Num Employees Year:2022
Industry:Maintenance, repair, and operations
Products:electronic instruments & controls

WESCO International, Inc. is an American publicly traded Fortune 500 holding company for Wesco Distribution, a multinational electrical distribution and services company based in Pittsburgh, Pennsylvania.[2]

WESCO International, Inc. provides electrical, industrial, communications, maintenance, repair, and operating (MRO), original equipment manufacturer (OEM) products, construction materials, and advanced supply chain management/logistic services. In 2023, its total revenue was approximately $22 billion. The company employs approximately 20,000 employees and 30,000 suppliers to serve more than 150,000 active customers worldwide.[3] Wesco customers include commercial and industrial businesses, contractors, government agencies, institutions, telecommunications providers, and utilities. Wesco operates ten fully automated distribution centers and 500 branches in North American and international markets.[4]

History

Wesco Distribution was formed in 1922 as a subsidiary of the Westinghouse Electric Corporation, a company also based in Pittsburgh. It served as the Westinghouse subsidiary charged with selling and distributing company components in the electrical and industrial industries. Wesco maintained close ties to its parent.

In 1994, the private equity firm Clayton, Dubilier & Rice (CD&R) purchased Westinghouse Electrical Supply Company and created Wesco Distribution Inc.[3]

In June 1998, CD&R sold Wesco to The Cypress Group for USD 1.1 billion, which formed WESCO International Inc., the current owner of Wesco Distribution.

In the same year, Wesco acquired the Bruckner Supply Company Inc., a provider of integrated supply management solutions and MRO products to Fortune 500 customers.[3]

On May 12, 1999, Wesco held its initial public offering on the New York Stock Exchange, selling 9.72 million shares for $18 per share and raising a total of $175 million.

In 2008, the company was recognized for "environmentally sustainable business practices" through an Environmental Stewardship Award from Veolia ES Technical Solutions.[5]

Acquisitions

In 2005, Wesco acquired the Carlton-Bates Company, a provider of original equipment products and supply solutions to industrial customers.[3] In the same year, Forbes magazine named Wesco as one of their 400 Best Big Companies, an honor which was received again in 2006, 2007, and 2009.

In 2006, Wesco acquired the Communication Supply Corporation, a national distributor of data communications products for enterprise and data center customers.[6]

In November 2010 the company acquired TVC Communications.[7]

In 2010, Wesco acquired Calgary, Alberta based Brews Supply Ltd.[8]

In 2012, Wesco acquired EECOL Electric Corp.[9]

In June 2012, the company acquired Conney Safety Products, LLC.[10]

In 2014, Wesco acquired Hazmasters Inc.[11]

In 2015, Wesco acquired Hill Country Electric Supply,[12] Aelux,[13] and Needham Electric Supply.[14]

In 2016, Wesco acquired Atlanta Electrical Distributors, LLC.[15]

In 2019, Wesco acquired OSRAM's Sylvania Lighting Solutions (SLS), now known as Wesco Energy Solutions.[16]

On January 13, 2020, Wesco agreed to acquire Anixter.[17] In November 2021, Wesco changed its logo as part of the post-merger integration with Anixter.[18]

On September 7, 2022, Wesco agreed to acquire Rahi Systems.[19]

Executive officers

Board of directors

Board Members' terms expired in May 2020.[24]

Notes and References

  1. Web site: Wesco International. Wesco. 2024-03-26.
  2. Web site: WESCO International. 2022-03-22. Fortune.
  3. Web site: About Us - Company History & Capabilities | WESCO. www.wesco.com.
  4. Web site: About Us - Company History & Capabilities | WESCO.
  5. Web site: Homepage . Veolia.
  6. Web site: 2006-11-01 . Datacom distributor WESCO International acquiring Communications Supply Corp. . 2024-08-15 . Cabling Installation & Maintenance . en.
  7. Web site: 2010-11-17 . WESCO International Acquires TVC Communications . 2024-08-15 . Industrial Distribution . en-us.
  8. Web site: 2011-10-05 . Wesco International Acquires Brews Supply . 2024-08-15 . Industrial Distribution . en-us.
  9. Web site: WESCO International Completes $1.14B Acquisition of EECOL Electric . 2024-08-15 . www.lexpert.ca . en.
  10. Web site: WESCO acquires Conney Safety Products – tEDmag . 2024-08-15 . tedmag.com.
  11. Web site: WESCO International, Inc. Acquires Hazmasters, Inc.. www.canadianelectricalwholesaler.ca.
  12. Web site: 2015-04-29 . WESCO Acquires Hill Country Electric Supply . 2024-08-15 . Industrial Distribution . en-us.
  13. Web site: Ælux Visual - design and branding solutions. Ælux.
  14. Web site: 2015-11-02 . WESCO Acquires New England's Needham Electric Supply . 2024-08-15 . Industrial Distribution . en-us.
  15. Web site: 2016-03-02 . WESCO To Acquire Atlanta Electrical Distributors . 2024-08-15 . Industrial Distribution . en-us.
  16. Web site: 2019-03-05 . WESCO subsidiary buys Sylvania Lighting Solutions . 2024-08-15 . M&A News & Trends - Smart Business Dealmakers . en.
  17. Web site: Kovar . Joseph F. . Distribution Deal: Wesco Wins Bidding War For Anixter CRN . 2024-08-15 . www.crn.com.
  18. Web site: The New Wesco: Endless Possibilities . 2024-03-22 . info.wesco.com . fr-ca.
  19. Web site: 2022-09-09 . Wesco to Acquire Data Center Solutions Provider for $217M . 2024-08-15 . Industrial Distribution . en-us.
  20. Web site: Bloomberg | WESCO Distribution, Inc. - Directors & Officers. Bloomberg | WESCO international, inc..
  21. Web site: Roy W Haley, Wesco Intl Inc: Profile and Biography. Bloomberg News.
  22. Web site: Zep Home Page. www.zep.com.
  23. Web site: Official website . curexgroup.com . PDF. 2020-10-15.
  24. Web site: Investor Relations | WESCO Distribution, Inc. - Directors & Officers.
  25. Web site: Our Team | Atlas Holdings.
  26. Web site: February 22, 2024 . WESCO International Full Year 2023 Earnings: EPS Misses Expectations . March 20, 2024 . Yahoo! Finance.

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