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WESCO International

From Wikipedia, the free encyclopedia
Not to be confused with Wesco Financial or WESCO oil.
"TVC Communications" redirects here. For the Nigerian communications company, see TVC News.
Wesco International, Inc.
FormerlyWestinghouse Electrical Supply Company
Company typePublic company
IndustryMaintenance, repair, and operations
Founded1922; 102 years ago (1922)
HeadquartersPittsburgh, Pennsylvania, U.S.
Area served
Worldwide
Key people
John Engel
(Chairman and CEO)
Productselectronic instruments & controls
Revenue
  • Increase US$8.177 billion (2018)
  • Increase US$7.679 billion (2017)
  • Increase US$353 million (2018)
  • Decrease US$319 million (2017)
  • Increase US$225 million (2018)
  • Increase US$163 million (2017)
Total assets
  • Decrease US$4.605 billion (2018)
  • Increase US$4.736 billion (2017)
Total equity
  • Increase US$2.130 billion (2018)
  • Increase US$2.116 billion (2017)
Number of employees
20,000[1] (2022)
Websitewesco.com
Footnotes / references
  • Financials[2]: 35, 37, 63–6 
  • Employees[2]: 2 
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]

Wesco International, Inc. provides electrical, industrial, communications, maintenance, repair, and operating (MRO), original equipment manufacturer (OEM) products, construction materials, and shipping. 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 ten fully automated distribution centers and 500 branches in North American and international markets.[5]

History

[edit]

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[7]

In 2008, the company was recognized for "environmentally sustainable business practices" through an Environmental Stewardship Award from Veolia ES Technical Solutions.[8]

Acquisitions

[edit]

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.[9]

In November 2010 the company acquired TVC Communications.[10][11]

In 2010, Wesco acquired Calgary, Alberta based Brews Supply Ltd.[12]

In 2012, Wesco acquired EECOL Electric Corp.[13]

In June 2012, the company acquired Conney Safety Products, LLC.[14]

In 2014, Wesco acquired Hazmasters Inc.[15]

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

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

In 2019, Wesco acquired OSRAM's Sylvania Lighting Solutions (SLS), now known as Wesco Energy Solutions.[20]

On January 13, 2020, Wesco agreed to acquire Anixter.[21] In November 2021, Wesco changed its logo as part of the post-merger integration with Anixter.[22]

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

Executive officers

[edit]
  • John J. Engel – chairman, President & CEO
  • David S. Schulz – Executive Vice President & Chief Financial Officer
  • Diane E. Lazzaris – Executive Vice President & General Counsel
  • Christine A. Wolf – Executive Vice President & Chief Human Resources Officer
  • Theodore A. Dosch – Executive Vice President, Strategy & Chief Transformation Officer
  • Nelson J. Squires III – Executive Vice President & General Manager, Electrical & Electronic Solutions
  • William Clayton Geary II – Executive Vice President & General Manager, Communications & Security Solutions
  • James Cameron – Executive Vice President & General Manager, Utility & Broadband Solutions
  • Hemant Porwal – Executive Vice President, Supply Chain & Operations[24]
  • Roy W. Haley – Former Chairman, President & CEO 05/1998 - 09/2009; Former CEO 02/1994 - 05/1998[25]
  • Akash Khurana - CDIO

Board of directors

[edit]
  • 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.[26]
  • Steven A. Raymund – Former Chairman & CEO of Tech Data Corporation
  • James L. Singleton – Chairman & CEO of Cürex Group Holdings, LLC.[27]
  • Easwaran Sundaram – Executive VP and Chief Digital & Technology Officer of JetBlue Airways Corporation
  • Lynn M. Utter – Principal and Chief Talent Officer, Atlas Holdings[28][29]
  • Laura K. Thompson – Former Executive Vice President of The Goodyear Tire & Rubber Company.[30]

References

[edit]
  1. ^ "Wesco International". Wesco. Retrieved 2024-03-26.
  2. ^ a b "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. ^ a b c d e "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. ^ Lott, Ethan (17 May 1999). "WESCO public offering matches expectations, netting $163 million". www.bizjournals.com. Retrieved 2024-09-13.
  8. ^ "Homepage". Veolia.
  9. ^ "Datacom distributor WESCO International acquiring Communications Supply Corp". Cabling Installation & Maintenance. 2006-11-01. Retrieved 2024-08-15.
  10. ^ "WESCO completes acquisition of TVC Communications". Telecom Mergers & Acquisition Monthly Newsletter. United States: Information Gatekeepers. November 2010. p. 4.
  11. ^ "WESCO International Acquires TVC Communications". Industrial Distribution. 2010-11-17. Retrieved 2024-08-15.
  12. ^ "Wesco International Acquires Brews Supply". Industrial Distribution. 2011-10-05. Retrieved 2024-08-15.
  13. ^ "WESCO International Completes $1.14B Acquisition of EECOL Electric". www.lexpert.ca. Retrieved 2024-08-15.
  14. ^ "WESCO acquires Conney Safety Products – tEDmag". tedmag.com. Retrieved 2024-08-15.
  15. ^ "WESCO International, Inc. Acquires Hazmasters, Inc". www.canadianelectricalwholesaler.ca.
  16. ^ "WESCO Acquires Hill Country Electric Supply". Industrial Distribution. 2015-04-29. Retrieved 2024-08-15.
  17. ^ "Ælux Visual - design and branding solutions". Ælux.
  18. ^ "WESCO Acquires New England's Needham Electric Supply". Industrial Distribution. 2015-11-02. Retrieved 2024-08-15.
  19. ^ "WESCO To Acquire Atlanta Electrical Distributors". Industrial Distribution. 2016-03-02. Retrieved 2024-08-15.
  20. ^ "WESCO subsidiary buys Sylvania Lighting Solutions". M&A News & Trends - Smart Business Dealmakers. 2019-03-05. Retrieved 2024-08-15.
  21. ^ Kovar, Joseph F. "Distribution Deal: Wesco Wins Bidding War For Anixter | CRN". www.crn.com. Retrieved 2024-08-15.
  22. ^ "The New Wesco: Endless Possibilities". info.wesco.com (in Canadian French). Retrieved 2024-03-22.
  23. ^ "Wesco to Acquire Data Center Solutions Provider for $217M". Industrial Distribution. 2022-09-09. Retrieved 2024-08-15.
  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. ^ "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.
[edit]
  • Business data for WESCO International, Inc.:
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