In WESCO’s recent conference call on its first-quarter earnings, CFO Stephen Van Oss addressed the distributor’s ultimately withdrawn bid for Industrial Distribution Group in April:
(IDG) strategically fit our business well and they have done a good job on those types of programs with smaller customers, where WESCO’s programs tend to be with much larger engagements. … Additionally, they had a number of specialty businesses, some of which lined up nicely with WESCO’s strength, such as the manufactured housing area, where we could leverage our infrastructure nicely and bring in some new products sets to get better penetration.”
Van Oss said that WESCO felt it had a “full and fair valuation”with its $11.75 bid ($0.05 less than Platinum Equity’s bid) and the …
