WESCO International

WESCO International, Inc. is a holding company for WESCO Distribution, a multinational electronics distribution and services company based in Pittsburgh, Pennsylvania.

Not to be confused with Wesco Financial or WESCO oil.
WESCO International, Inc.
Formerly
Westinghouse Electric Supply Company
Public company
Traded asNYSE: WCC
Russell 1000 Component
IndustryMaintenance, repair, and operations
Founded1922 (1922)
HeadquartersPittsburgh, Pennsylvania, United States
Area served
Worldwide
Key people
John Engel
(Chairman and CEO)
Productselectronic instruments & controls
Revenue
  • US$ 8.177 billion (2018)
  • US$ 7.679 billion (2017)
  • US$ 353 million (2018)
  • US$ 319 million (2017)
  • US$ 225 million (2018)
  • US$ 163 million (2017)
Total assets
  • US$ 4.605 billion (2018)
  • US$ 4.736 billion (2017)
Total equity
  • US$ 2.130 billion (2018)
  • US$ 2.116 billion (2017)
Number of employees
9,100[1] (2018)
Websitewww.wesco.com
Footnotes / references
  • Financials[2]:35,37,63–6
  • Employees[2]:2

WESCO International, Inc. (NYSE: WCC), a publicly traded Fortune 500 holding company headquartered in Pittsburgh, Pennsylvania,[3] is a provider of electrical, industrial, and communications maintenance, repair and operating ("MRO") and original equipment manufacturer ("OEM") products, construction materials, and advanced supply chain management and logistic services. 2018 annual sales were approximately $8.2 billion. The company employs 9,100 people, maintains relationships with 30,000 suppliers, and serves 70,000 active customers worldwide. Customers include commercial and industrial businesses, contractors, government agencies, institutions, telecommunications providers, and utilities. WESCO operates 10 fully automated distribution centers and 500 branches in North America and international markets.[4]

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.[5]

In 1998, WESCO acquired the Bruckner Supply Company.

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 2005, WESCO acquired the Carlton-Bates Company.

In 2006, WESCO acquired the Communication Supply Corporation.

In 2008, the company was recognized for "environmentally sustainable business practices" through an Environmental Stewardship Award from Veolia ES Technical Solutions.[6][notes 1]

In November 2010 the company acquired TVC Communications, a "distributor of broadband communications network infrastructure" for about US$250,000,000.[7]

In 2010, WESCO acquired Brews Supply.

In 2012, WESCO acquired EECOL Electric.

In June 2012 the company acquired Conney Safety for an undisclosed sum.[8][9]

In 2014, WESCO acquired Hazmasters.

In 2015, WESCO acquired Hill Country Electric Supply, Aelux, and Needham Electric Supply.

In 2016, WESCO acquired Atlanta Electrical Distributors.

On January 13, 2020, WESCO agreed to acquire Anixter for $4.5 billion in cash (approximately $2.4B) and WESCO stock.[10]

Executive officers
  • John J. Engel – Chairman, President & CEO
  • David S. Schulz – Sr. Vice President & CFO
  • Diane E. Lazzaris – Sr. Vice President & General Counsel
  • Christine A. Wolf – Sr. Vice President & CHRO
  • Robert Minicozzi – VP & Chief Information Officer

Board of Directors
  • John J. Engel – Chairman, President & CEO of WESCO International
  • Matthew J. Espe – Operating Partner of Advent International
  • Bobby J. Griffin – Former President, International Operations of Ryder System, Inc.
  • John K. Morgan – Former Chairman, President & CEO of Zep Inc.
  • Steven A. Raymund – Former Chairman & CEO of Tech Data Corporation
  • James L. Singleton – Chairman & CEO of Cürex Group Holdings, LLC
  • Easwaran Sundaram – Executive VP and Chief Digital & Technology Officer of JetBlue Airways Corporation
  • Lynn M. Utter – Principal and Chief Talent Officer, Atlas Holdings[11][12]

Board Members' terms expire in May 2020.[13]

WESCO subsidiaries
  • Atlanta Electrical Distributors, LLC
  • Brews Supply
  • Calvert Wire & Cable Corporation
  • Carlton Bates Company (CBC)
  • Communications Supply Corporation
  • Conney Safety
  • EECOL Electric
  • Hazmasters
  • Hi-Line Utility Company
  • Hill Country Electric Supply
  • Liberty Wire & Cable
  • Needham Electric Supply
  • TVC Communications
  • WESCO Distribution Canada
  • WESCO Distribution China
  • WESCO Distribution de México
  • Wesco Integrated Supply[14]

References
  1. "WESCO International". Fortune. Retrieved 2018-12-18.
  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.
  3. "WESCO International". Fortune. Retrieved 2018-12-18.
  4. "About Us - Company History & Capabilities | WESCO".
  5. "BUYOUT FIRM JOINS WESCO MANAGERS IN TAKEOVER". Archives. The New York Times. April 25, 1998. Archived from the original on March 26, 2014.
  6. "Veolia honors WESCO". American Recycler. 12 (5). United States. May 2009. p. A-5.
  7. "WESCO completes acquisition of TVC Communications". Telecom Mergers & Acquisition Monthly Newsletter. United States: Information Gatekeepers. November 2010. p. 4.
  8. 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.
  9. "Archived copy". Archived from the original on 2016-12-20. Retrieved 2016-12-12.CS1 maint: archived copy as title (link)
  10. Podmolik, Mary Ellen (13 January 2020). "Anixter accepts Wesco's $4.5B buyout offer, ending bidding war for Glenview company". The Chicago Tribune. Retrieved 13 January 2020.
  11. "Investor Relations | WESCO Distribution, Inc. - Directors & Officers".
  12. "Our Team | Atlas Holdings".
  13. "Investor Relations | WESCO Distribution, Inc. - Directors & Officers".
  14. 2018 10k

Notes
  1. Veolia ES is likely Veolia Environmental Services, but this remains to be verified.
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