WESCO International

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WESCO International, Inc.
Formerly
Westinghouse Electric Supply Company
Public company
Traded asNYSEWCC
Russell 1000 Component
IndustryMaintenance, repair, and operations
Founded1922; 97 years ago (1922)
HeadquartersPittsburgh, Pennsylvania, United States
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
9,100[1] (2018)
Websitewww.wesco.com
Footnotes / references
  • Financials[2]:35,37,63–6
  • Employees[2]:2

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

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[edit]

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.

Executive officers[edit]

  • 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[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.
  • 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 Jet Blue Airways Corporation
  • Lynn M. Utter – Chief Talent Officerhttp://wesco.investorroom.com/directors-and-officers of Atlas Holdings[10]

Board Members' terms expire in May 2020.[11]

WESCO subsidiaries[edit]

  • Atlanta Electrical Distributors, LLC
  • 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[12]

References[edit]

  1. ^ "WESCO International". Fortune. Retrieved 2018-12-18.
  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 2018-12-18.
  4. ^ https://www.wesco.com/about
  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.CS1 maint: extra punctuation (link)
  9. ^ "Archived copy". Archived from the original on 2016-12-20. Retrieved 2016-12-12.CS1 maint: archived copy as title (link)
  10. ^ http://wesco.investorroom.com/directors-and-officers
  11. ^ http://wesco.investorroom.com/directors-and-officers
  12. ^ 2018 10k

Notes[edit]

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

External links[edit]