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WESCO International
Type Public (NYSEWCC)
Founded 1922
Headquarters United States Pittsburgh, PA
Area served Worldwide
Key people Roy W. Haley
(Chairman) & (CEO)
Industry Maintenance, Repair, and Operations
Products electronic instruments & controls
Revenue USD 6.003 billion (2007)
Operating income USD 394.22 million (2007)
Net income USD 240.63 million (2007)
Total assets USD 2.859 billion (2007)
Total equity USD 608.48 million (2007)
Employees 7,300 (2008)
Website WESCO.com

WESCO International NYSEWCC is a holding company for WESCO Distribution, a multinational electronics distribution and services company based in Pittsburgh, Pennsylvania. It has no relation to Wesco Financial Corporation.

Contents

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 firm Clayton, Dubilier & Rice (CD&R) arranged for the purchase of WESCO from Westinghouse by CDW Holdings. In 1998, WESCO acquired Brown Wholesale Electric and Avon Electrical Supplies.

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]

In 1998, WESCO purchased W.R. Controls which specializes in electrical distribution, energy management systems (EMS), lighting controls, low voltage systems and HVAC controls for multi-site retail and restaurant national account customers.

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.

Today

WESCO International is a multinational leader in distribution of time critical industrial components. It has over 350 full-service locations in five nations, including five high technology distribution centers. WESCO has more than 100,000 customers worldwide. The company had $3.7 billion in sales during 2004. The company is also a procurement specialist, providing supply chain cost relief and efficiency to organizations worldwide.

WESCO subsidiaries

  • W.R. Controls
  • Avon Electrical Supplies
  • EESCO
  • WESCO SPS
  • WESCO Canada
  • WESCO China
  • WESCO Mexico
  • Carlton Bates Company (CBC)
  • Cyril John & co.

Management

Job: name, age, pay

  • CEO: Roy W. Haley, 58, $2.15M
  • CFO: Stephen A. Van Oss, 50, $712K
  • COO: John Engel, 42
  • Vice President Utility: Andy Bergdoll
  • Vice President Operations: David S. Bemoras

References

  1. ^ BUYOUT FIRM JOINS WESCO MANAGERS IN TAKEOVER. New York Times, April 25, 1998

External links

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