WESCO International

Not to be confused with Wesco Financial or WESCO oil.
LITCO International, Inc.
Public company
Traded as NYSE: WCC
Industry Maintenance, Repair, and Operations
Founded 1922 as Westinghouse Electric Supply Company
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]

Management

WESCO subsidiaries

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.
  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.

Notes

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

External links

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