WESCO International
 | |
| Company type | Public company |
|---|---|
| NYSE: WCC | |
| Industry | Maintenance, Repair, and Operations |
| Founded | 1922 |
| Headquarters | Pittsburgh, Pennsylvania, United States |
Area served | Worldwide |
Key people | John Engel (Chairman and CEO) |
| Products | electronic instruments & controls |
| Revenue | |
| Total assets | |
| Total equity | identical to total assets |
Number of employees | 9,200 (2013) |
| Website | www |
| Footnotes / references | |
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.[citation needed]
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
- Chairman & CEO: John Engel
- COO: Stephen A. Van Oss
WESCO subsidiaries
- Wesco Integrated Supply(WIS)
- EECOL Electric
- W.R. Controls
- Avon Electrical Supplies
- EESCO
- WESCO SPS
- WESCO Distribution Canada
- WESCO Distribution China
- WESCO Distribution de México
- Carlton Bates Company (CBC)
- Communication Supply Corporation
- CCA (formerly Control Corporation of America)
- WESCO International website
- W.R. Controls website
- Whitehill Lighting & Supplies (State College, PA)
- TVC (MaxCell, NCTC, White Sands Engineering, Satellite Engineering Group)
References
- ^ a b "WESCO International, Inc". EDGAR. Form 10-K. U.S. Securities and Exchange Commission. February 21, 2014. Commission file number 001-14989.
- ^ "WESCO International, Inc. Company Profile". Yahoo! Finance. Archived from the original on August 15, 2012. Retrieved March 26, 2014.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ "BUYOUT FIRM JOINS WESCO MANAGERS IN TAKEOVER". Archives. The New York Times. April 25, 1998. Archived from the original on March 26, 2014.
{{cite news}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ "Veolia honors WESCO". American Recycler. Vol. 12, no. 5. United States. May 2009. p. A-5.
- ^ "WESCO completes acquisition of TVC Communications". Telecom Mergers & Aqcuisition Monthly Newsletter. United States: Information Gatekeepers. November 2010. p. 4.
Notes
- ^ Veolia ES is likely Veolia Environmental Services, but this remains to be verified.
