WESCO International
Encyclopedia
WESCO International, Inc. is a holding company for WESCO Distribution, a multinational electronics distribution and services company based in Pittsburgh, Pennsylvania
.
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 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.
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.
Pittsburgh, Pennsylvania
Pittsburgh is the second-largest city in the US Commonwealth of Pennsylvania and the county seat of Allegheny County. Regionally, it anchors the largest urban area of Appalachia and the Ohio River Valley, and nationally, it is the 22nd-largest urban area in the United States...
.
History
In 1922 WESCO Distribution was formed as a spin-off of the Westinghouse Electric CorporationWestinghouse Electric (1886)
Westinghouse Electric was an American manufacturing company. It was founded in 1886 as Westinghouse Electric Company and later renamed Westinghouse Electric Corporation by George Westinghouse. The company purchased CBS in 1995 and became CBS Corporation in 1997...
also based in Pittsburgh
Pittsburgh, Pennsylvania
Pittsburgh is the second-largest city in the US Commonwealth of Pennsylvania and the county seat of Allegheny County. Regionally, it anchors the largest urban area of Appalachia and the Ohio River Valley, and nationally, it is the 22nd-largest urban area in the United States...
. 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 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.
On May 12, 1999, WESCO held its initial public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
on the New York Stock Exchange, selling 9.72 million shares for $18 per share, raising $175 million.
Today
WESCO International, Inc. (NYSE: WCC) 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.Management
- Chairman: Roy W. Haley
- CEO: John Engel
- CFO: Stephen A. Van Oss
- CIO: John Conte
- Vice President, Utility: Andy Bergdoll
- Vice President, Operations: David S. Bemoras
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