WESCO International
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| Type | Public company |
|---|---|
| Traded as | NYSE: WCC |
| Industry | Maintenance, Repair, and Operations |
| Founded | 1922 |
| Headquarters | Pittsburgh, Pennsylvania, United States |
| Area served | Worldwide |
| Key people | John Engel (CEO) |
| Products | electronic instruments & controls |
| Revenue |  USD 4.624 billion (2009) |
| Operating income | USD 180.00 million (2009) |
| Net income | USD 105.1 million (2009) |
| Total assets | USD 2.494 billion (2009) |
| Total equity |  USD 996.3 million (2009) |
| Employees | 6,100 (2010) |
| Website | www.wesco.com |
WESCO International, Inc. (NYSE: WCC) is a holding company for WESCO Distribution, a multinational electronics distribution and services company based in Pittsburgh, Pennsylvania.
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[edit] History
In 1922, WESCO Distribution was formed as a spin-off 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. Keeping close ties to its parent, WESCO prospered and grew its reputation as a trusted source of electronic and heavy industry products. In 1994, the private equity firm Clayton, Dubilier & Rice (CD&R) arranged for the purchase of WESCO from Westinghouse by CDW Holdings.
CDW Holdings filed to take WESCO public in 1998, but instead sold it to a group backed by The Cypress Group for $1.1 billion in April 1998. This group formed WESCO International, Inc., which is the current owner of WESCO Distribution.[1]
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.
[edit] Today
Today, WESCO International is a publicly traded Fortune 500 holding company, headquartered in Pittsburgh, Pennsylvania, whose primary operating entity is WESCO Distribution, Inc. WESCO Distribution is a leading distributor of electrical construction products and electrical and industrial maintenance, repair and operating (MRO) supplies, and is the nation's largest provider of integrated supply services. 2009 annual sales were approximately $4.6 billion. The Company employs approximately 6,100 people, maintains relationships with over 17,000 suppliers, and serves over 100,000 customers worldwide. Major markets include commercial and industrial firms, contractors, government agencies, educational institutions, telecommunications businesses and utilities. WESCO operates seven fully automated distribution centers and approximately 380 full-service branches in North America and select international markets, providing a local presence for area customers and a global network to serve multi-location businesses and multi-national corporations.
[edit] Management
- Chairman: Roy W. Haley
- CEO: John Engel
- CFO: Stephen A. Van Oss
[edit] References
- ^ BUYOUT FIRM JOINS WESCO MANAGERS IN TAKEOVER. New York Times, April 25, 1998
[edit] External links
[edit] WESCO subsidiaries
- W.R. Controls
- Avon Electrical Supplies
- EESCO
- WESCO SPS
- WESCO Canada
- WESCO China
- WESCO Mexico
- Carlton Bates Company (CBC)
- Communication Supply Corporation
- CCA (formerly Control Corporation of America)
- WESCO International website
- W.R. Controls website
- Yahoo! - WESCO International, Inc. Company Profile
Whitehill Lighting & Supplies (State College, PA)
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