WESCO International

WESCO International, Inc.
Formerly
 Westinghouse Electric Supply Company
Public company
Traded as NYSE: WCC
Russell 1000 Component
Industry Maintenance, Repair, and Operations
Founded 1922 (1922)
Headquarters Pittsburgh, Pennsylvania, United States
Area served
 Worldwide
Key people
 John Engel
(Chairman and CEO)
Products electronic instruments & controls
Revenue
  • Increase US$ 7.513 billion (2013)
  • Increase US$ 6.579 billion (2012)
  • Increase US$ 481 million (2013)
  • Decrease US$ 333 million (2012)
  • Increase US$ 276.5 million (2013)
  • Increase US$ 201.8 million (2012)
Total assets
  • Decrease US$ 4.617 billion (2013)
  •      US$ 4.630 billion (2012)
Total equity identical to total assets
Number of employees
 9,200 (2013)
Website www.wesco.com
Footnotes / references
  • Financials[1]:35,37,63–6
  • Employees[1]:2

WESCO International, Inc. is a holding company for WESCO Distribution, a multinational electronics distribution and services company based in Pittsburgh, Pennsylvania. Despite the 'international' moniker, the company makes "nearly all of its sales" in the United States.[2]

WESCO International, Inc. (NYSE: WCC), a publicly traded Fortune 500 holding company headquartered in Pittsburgh, Pennsylvania, is a provider of electrical, industrial, and communications maintenance, repair and operating ("MRO") and original equipment manufacturers ("OEM") product, construction materials, and advanced supply chain management and logistic services. 2012 annual sales were approximately $6.6 billion. The Company employs approximately 9,000 people, maintains relationships with over 18,000 suppliers, and serves over 100,000 customers worldwide. Customers include commercial and industrial businesses, contractors, government agencies, institutions, telecommunications providers and utilities. WESCO operates seven distribution centers and approximately 400 full-service branches in North America and international markets.

History

In 1922, WESCO Distribution was formed as a subsidiary of the Westinghouse Electric Corporation also based in Pittsburgh. It had existed for decades within Westinghouse as the subsidiary charged with selling and distributing company components in the electrical and industrial fields. WESCO maintained close ties to its parent. In 1994, the private equity firm Clayton, Dubilier & Rice (CD&R) arranged for the purchase of WESCO from Westinghouse.

CD & R sold WESCO to The Cypress Group for $1.1 billion in June 1998. This group formed WESCO International, Inc., which is the current owner of WESCO Distribution.[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, raising $175 million.

In 2008, the company was recognized for "environmentally sustainable business practices" through an Environmental Stewardship Award from Veolia ES Technical Solutions.[4][notes 1]

In November 2010 the company acquired TVC Communications, a "distributor of broadband communications network infrastructure" for about US$250,000,000.[5]

In June, 2012 the company acquired Conney Safety for an undisclosed sum.[6][7]

Executive Officers

  • John J. Engel - Chairman, President & CEO
  • David S. Schulz - Sr. Vice President, CFO
  • Diane E. Lazzaris - Sr. Vice President, General Counsel
  • Kim Windrow - Sr. Vice President, CHRO

Board of directors

  • Sandra Beach Lin - Former CEO, Calisolar
  • John J. Engel - Chairman, President & CEO, WESCO International
  • Matthew J. Espe - CEO, Radial Inc.
  • Bobby J. Griffin - Former President, International Operations of Ryder System, Inc.
  • John K. Morgan - Former Chairman, President & CEO, Zep Inc.
  • James J. O'Brien - Former Chairman, CEO Ashland, Inc
  • Steven A. Raymund - Chairman, of Tech Data Corporation
  • James L. Singleton - Chairman, CEO of Cürex Group Holdings, LLC
  • Lynn M. Utter - CEO, of First Source LLC

All Board Members terms are set to expire in May 2017[8]

WESCO subsidiaries

  • Avon Electrical Supplies
  • Carlton Bates Company (CBC)
  • CCA (formerly Control Corporation of America)
  • Communication Supply Corporation
  • Conney Safety
  • EECOL Electric
  • EESCO
  • TVC (MaxCell, NCTC, White Sands Engineering, Satellite Engineering Group). Founded by George Gardner in 1952, in Lewistown, Pennsylvania. The company expanded in the ensuing decades and by 2010 had three divisions: White Sands Engineering, MaxCell, and Marathon. White Sands Engineering, based in Phoenix, Arizona, a manufacturer of custom-made cable harness in the U.S. for the cable television, telephone, satellite, broadcast, data delivery and computer industries. MaxCell produces textile innerduct. Marathon provides products for communications networks. Wesco purchased TVC Communications and its divisions for a purchase price of $246.5 million, in December 2010.
  • WESCO Distribution Canada
  • WESCO Distribution China
  • WESCO Distribution de México
  • Wesco Integrated Supply (WIS)
  • WESCO SPS
  • Whitehill Lighting & Supplies (State College, PA)
  • W.R. Controls

References

  1. 1 2 "WESCO International, Inc". EDGAR. Form 10-K. U.S. Securities and Exchange Commission. February 21, 2014. Commission file number 001-14989. Archived from the original on April 17, 2016.
  2. ↑ "WESCO International, Inc. Company Profile". Yahoo! Finance. Archived from the original on August 15, 2012. Retrieved March 26, 2014.
  3. ↑ "BUYOUT FIRM JOINS WESCO MANAGERS IN TAKEOVER". Archives. The New York Times. April 25, 1998. Archived from the original on March 26, 2014.
  4. ↑ "Veolia honors WESCO". American Recycler. 12 (5). United States. May 2009. p. A-5.
  5. ↑ "WESCO completes acquisition of TVC Communications". Telecom Mergers & Acquisition Monthly Newsletter. United States: Information Gatekeepers. November 2010. p. 4.
  6. ↑ Inc., WESCO International,. "WESCO International, Inc. Announces the Acquisition of Conney Safety Products". www.prnewswire.com. Archived from the original on 20 December 2016. Retrieved 1 May 2018.
  7. ↑ "Archived copy". Archived from the original on 2016-12-20. Retrieved 2016-12-12.
  8. ↑ "WESCO Management". investorroom.com. Archived from the original on 20 December 2016. Retrieved 1 May 2018.

Notes

  1. ↑ Veolia ES is likely Veolia Environmental Services, but this remains to be verified.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.