WESCO International

Last updated
WESCO International, Inc.
FormerlyWestinghouse Electrical Supply Company
Company type Public company
IndustryMaintenance, repair, and operations
Founded1922;102 years ago (1922)
Headquarters Pittsburgh, Pennsylvania, U.S.
Area served
Worldwide
Key people
John Engel
(Chairman and CEO)
Productselectronic instruments & controls
Revenue
  • Increase2.svg US$8.177 billion (2018)
  • Increase2.svg US$7.679 billion (2017)
  • Increase2.svg US$353 million (2018)
  • Decrease2.svg US$319 million (2017)
  • Increase2.svg US$225 million (2018)
  • Increase2.svg US$163 million (2017)
Total assets
  • Decrease2.svg US$4.605 billion (2018)
  • Increase2.svg US$4.736 billion (2017)
Total equity
  • Increase2.svg US$2.130 billion (2018)
  • Increase2.svg US$2.116 billion (2017)
Number of employees
20,000 [1]  (2022)
Website wesco.com
Footnotes /references
  • Financials [2] : 35, 37, 63–6 
  • Employees [2] : 2 
Wesco office in Canada WescoDistributionCanada.jpg
Wesco office in Canada

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. [3]

Contents

WESCO International, Inc. is a provider of electrical, industrial, communications, maintenance, repair and operating (MRO), and original equipment manufacturer (OEM) products, as well as 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. [4] Wesco 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 American and international markets. [5]

History and acquisitions

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. [4]

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. [6]

In the same year, Wesco acquired the Bruckner Supply Company Inc., a provider of integrated supply management solutions[ buzzword ] and MRO products to Fortune 500 customers. [4]

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 2005, Wesco acquired the Carlton-Bates Company, a provider of original equipment products and supply solutions[ buzzword ] to industrial customers. [4] 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. [4]

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

In 2008, the company was recognized for "environmentally sustainable business practices" through an Environmental Stewardship Award from Veolia ES Technical Solutions. [7]

In November 2010 the company acquired TVC Communications. [8] [9]

In 2010, Wesco acquired Calgary, Alberta based Brews Supply Ltd. [10] [4]

In 2012, Wesco acquired EECOL Electric Corp. [11]

In June 2012, the company acquired Conney Safety Products, LLC. [12]

In 2014, Wesco acquired Hazmasters Inc. [13] [14]

In 2015, Wesco acquired Hill Country Electric Supply, [15] Aelux, [16] and Needham Electric Supply. [17] [18]

In 2016, Wesco acquired Atlanta Electrical Distributors, LLC. [19] [20]

Soon after, Wesco acquired OSRAM's Sylvania Lighting Solutions (SLS), now known as Wesco Energy Solutions.

On January 13, 2020, Wesco agreed to acquire Anixter. [21]

In November 2021, Wesco changed it's logo as part of the post-merger integration with Anixter. [22]

On September 7, 2022, Wesco agreed to acquire Rahi Systems. [23]

Executive officers

Board of directors

Board Members' terms expire in May 2020. [28]

Related Research Articles

Quest Software, also known as Quest, is a privately held software company headquartered in Aliso Viejo, California, United States. Quest provides cloud management, software as a service, security, workforce mobility, and backup & recovery. The company was founded in 1987 and has 53 offices in 24 countries.

Vantiva SA, formerly Technicolor SA, Thomson SARL, Thomson SA, and Thomson Multimedia, is a French multinational corporation that provides creative services and technology products for the communication, media and entertainment industries. Vantiva's headquarters are located in Paris, France. Other main office locations include Norcross (USA), Rennes (France) Edegem (Belgium) Seoul, Beijing (China), Chennai (India), Memphis (USA).

<span class="mw-page-title-main">Rockwell Automation</span> American industrial automation provider

Rockwell Automation, Inc. is an American provider of industrial automation and digital transformation technologies. Brands include Allen-Bradley, FactoryTalk software and LifecycleIQ Services.

<span class="mw-page-title-main">Rexel</span>

Rexel is a French company specializing in the distribution of electrical, heating, lighting and plumbing equipment, but also in renewable energies and energy efficiency products and services.

net2phone is a Cloud Communications provider offering cloud based telephony services to businesses worldwide. The company is a subsidiary of IDT Corporation.

Markel Group Inc. is a group of companies headquartered in Richmond, Virginia, and originally founded in 1930 as an insurance company.

Avnet, Inc. is a distributor of electronic components headquartered in Phoenix, Arizona, named after Charles Avnet, who founded the company in 1921. After its start on Manhattan's Radio Row, the company became incorporated in 1955 and began trading on the New York Stock Exchange in 1961. On May 8, 2018, Avnet changed stock markets to Nasdaq, trading under the same ticker AVT.

Anixter International Inc. is a company based in Glenview, Illinois, United States and founded in 1957. The company supplies goods and services for communications, security, networking, audio-visual, and industrial control applications.

<span class="mw-page-title-main">Essendant</span> American office supply distributor

Essendant, formerly known as United Stationers, is a national wholesale distributor of office supplies, with consolidated net sales of $5.3 billion. Essendant stocks over 160,000 items, including traditional office products, office furniture, janitorial and break room supplies, and technology products. Essendant is headquartered in Deerfield, Illinois, and also has operations in Dubai, United Arab Emirates (UAE).

<span class="mw-page-title-main">Acuity Brands</span> Industrial company

Acuity Brands, Inc. is a lighting and building management firm headquartered in Atlanta, Georgia, with operations throughout North America and in Europe and Asia. As of 2018 the company has approximately 13,000 employees and recorded net sales of $3.7 billion for the fiscal year. In terms of market share, Acuity Brands is the largest lighting manufacturer in North America.

Epicor Software Corporation is a business software company based in Austin, Texas founded in 1972. Its products are aimed at the manufacturing, distribution, retail and services industries.

Follett Corporation is an American technology company headquartered in Westchester, Illinois. Follett is a provider of educational services and products to colleges, schools, and libraries.

<span class="mw-page-title-main">TIBCO Software</span> American enterprise software company

TIBCO Software Inc. is a business unit of Cloud Software Group that provides enterprise software. It has headquarters in Palo Alto and offices in North America, Europe, Asia, the Middle East, Africa and South America.

<span class="mw-page-title-main">The Home Depot Pro</span> U.S. wholesale distributor

The Home Depot Pro, headquartered in Jacksonville, Florida, is a wholesale distributor and direct marketer of maintenance, repair and operations (MRO) products for non-industrial businesses in the United States. The Home Depot Pro distributes products such as HVAC, janitorial supplies, plumbing supplies, and security supplies.

<span class="mw-page-title-main">Activant</span> American technology company

Activant Solutions Inc. was a privately held American technology company specializing in business management, software serving retail and wholesale distribution businesses headquartered in Livermore, California.

<span class="mw-page-title-main">Kellwood Company</span>

Kellwood Apparel is an American apparel manufacturer. Founded in 1961, Kellwood's portfolio of Women's, Juniors and Girls apparel includes: Parker, Devlin, Briggs NY, Democracy, Jax, Rewind and My Michelle, as well as licensed brands. Kellwood became an affiliated company of Sun Capital Partners, Inc. in February, 2008. In December 2016, Kellwood company was acquired by an unnamed Hong Kong investor group for an undisclosed amount.

<span class="mw-page-title-main">Summit Electric Supply</span> Wholesale electrical distributor

Summit Electric Supply Co. Inc. is a privately held, independent wholesale distributor of industrial electrical equipment and supplies. The company is headquartered in Albuquerque, New Mexico where it was founded in 1977.

Vertiv is an American multinational provider of critical infrastructure and services for data centers, communication networks, and commercial and industrial environments.

<span class="mw-page-title-main">Kirill Tatarinov</span> Vice chairman of Acronis

Kirill Tatarinov is the Executive Vice Chairman at Acronis. Previously, he held the positions of CEO at Citrix Systems and Executive Vice President of Microsoft Business Solutions.

Workhorse Group Incorporated, originally AMP Electric Vehicles, is an original equipment manufacturer and technology company headquartered in Sharonville, Ohio, U.S. Workhorse makes electric delivery vans, drones, and telematics software designed for last-mile delivery. Their products include commercial electric vehicles, Horsefly delivery drones, and a Metron telematics software system.

References

  1. ↑ "Wesco International". Wesco. Retrieved 2024-03-26.
  2. 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.
  3. ↑ "WESCO International". Fortune. Retrieved 2022-03-22.
  4. 1 2 3 4 5 6 "About Us - Company History & Capabilities | WESCO". www.wesco.com.
  5. ↑ "About Us - Company History & Capabilities | WESCO".
  6. ↑ "Buyout Firm Joins WESCO Managers in Takeover". The New York Times . April 25, 1998. Archived from the original on March 26, 2014.
  7. ↑ "Homepage". Veolia.
  8. ↑ "TVC". www.tvcinc.com.
  9. ↑ "WESCO completes acquisition of TVC Communications". Telecom Mergers & Acquisition Monthly Newsletter. United States: Information Gatekeepers. November 2010. p. 4.
  10. ↑ "Our Beginnings".
  11. ↑ "WESCO International, Inc. Completes the Acquisition of Canadian-based EECOL Electric Corporation". www.prnewswire.com.
  12. ↑ "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.
  13. ↑ "Hazmasters Inc | Home - Safety Product - Training - Services". Hazmasters.
  14. ↑ "WESCO International, Inc. Acquires Hazmasters, Inc". www.canadianelectricalwholesaler.ca.
  15. ↑ "WESCO International, Inc. Announces the Acquisition of Hill Country Electric Supply". www.prnewswire.com.
  16. ↑ "Ælux Visual - design and branding solutions". Ælux.
  17. ↑ "Needham Electric Supply | Electrical Wholesale & Distribution". Needham Electric Supply.
  18. ↑ "WESCO International, Inc. Announces the Acquisition of Needham Electric Supply". www.prnewswire.com.
  19. ↑ "About Us". Atlanta Electrical Distributor.
  20. ↑ "WESCO International, Inc. Announces the Acquisition of Atlanta Electrical Distributors". www.prnewswire.com.
  21. ↑ "WESCO International Announces Completion of Merger with Anixter International". www.prnewswire.com.
  22. ↑ "The New Wesco: Endless Possibilities". info.wesco.com (in Canadian French). Retrieved 2024-03-22.
  23. ↑ "Wesco Intl To Acquire Rahi Systems For $217 Mln". www.businesswire.com/.
  24. ↑ "Bloomberg | WESCO Distribution, Inc. - Directors & Officers". Bloomberg | WESCO international, inc.
  25. ↑ "Roy W Haley, Wesco Intl Inc: Profile and Biography". Bloomberg News .
  26. ↑ "Zep Home Page". www.zep.com.
  27. ↑ "Official website" (PDF). curexgroup.com. Retrieved 2020-10-15.
  28. 1 2 "Investor Relations | WESCO Distribution, Inc. - Directors & Officers".
  29. ↑ "Our Team | Atlas Holdings".
  30. ↑ "WESCO International Full Year 2023 Earnings: EPS Misses Expectations". Yahoo! Finance. February 22, 2024. Retrieved March 20, 2024.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.