pittsburgh, February 23, 2024 /PRNewswire/ — Wesco International (NYSE:WCC) today entered into a definitive agreement to sell its Wesco Integrated Supply (WIS) business to Valen Distribution, a portfolio company of Nautique Partners, LLC. announced.purchase price of $350 million. The company plans to use the proceeds to reduce debt and buy back its own shares. The sale primarily includes all of Wesco's industrial maintenance, repair and operations (MRO) integrated supply businesses. North America and Europe.The annual net sales of the businesses to be sold are approximately $784 million In 2023.
“This sale supports our portfolio management strategy of prioritizing investment and resources to the areas of our business that offer the strongest growth and profit potential. “They have provided excellent value to their customers. I am extremely proud of their accomplishments and thank them for their outstanding customer service.” John EngelChairman, President, and CEO of Wesco.
The sale is expected to close in the second quarter, subject to customary regulatory approvals.
About Wesco
Wesco International (NYSE: WCC) builds, connects, powers and protects the world.Head office location Pittsburgh, PennsylvaniaWesco is a FORTUNE 500® company with a proven track record of… $22 billion A leading provider of business-to-business distribution, logistics services, and supply chain solutions with top annual sales. Wesco offers a best-in-class product and service portfolio of electrical and electronic solutions, communications and security solutions, utility and broadband solutions. We have approximately 20,000 employees, partner with the industry's leading suppliers, and serve thousands of customers around the world. With millions of products, end-to-end supply chain services, and cutting-edge digital capabilities, Wesco meets the needs of customers across commercial and industrial operations, contractors, government agencies, educational institutions, telecommunications providers, and utilities. We provide innovative solutions that meet your needs. Wesco operates approximately 800 branches, warehouses and sales offices in more than 50 countries, providing regional locations for customers and a global network serving multi-location and global enterprises.
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Source Wesco International
