It will divest the industrial MRO unit out of Wesco, while considerably bolstering Vallen's product and services offerings.
Latest In WESCO International
While 4Q volume fell in certain verticals, Wesco said it saw growth in industrial, utility, data center and network infrastructure.
When Wesco merged with Anixter in 2020, it took on a margin improvement plan, which may help the company reach its 10% EBITDA margin target.
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WESCO saw year-over-year growth in its CSS and UBS units, while its largest unit — EES — declined.
The electrical distributor is expanding installation services and unveiling the first of many distribution centers to 'meet growing demand for new, complex projects.'
Wesco says its goal of reducing landfill waste intensity by 15% across U.S. and Canadian locations is 70% complete.
Wesco reported record second-quarter sales thanks to growth in two segments which offset a quarterly drop in its electrical business unit.
Electrical and industrial products distributor Wesco International elected Glynis Bryan to its Board of Directors.
Zell piloted Anixter's board for 34 years until its $4.5 sale to Wesco International in 2020.
As part of an expanded portfolio of services, Wesco International has expanded its IoT advisory services and opened a new innovation center.
While down somewhat from its 4Q22 figures, Wesco posted more double-digit sales growth in 1Q despite harsh market headwinds.
The group is expected to provide customers with services and solutions including comprehensive data center lifecycle management.
A new report states a majority of economists now think a would-be recession is coming later than expected. It suggests a softer economic landing as distributors continue to report strong financials.
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A half-dozen distributors made Forbes' 2023 lists for Best Midsize and Large Employers, including a few on MDM's Top Distributors lists.
The distributor of electrical and industrial products continues to blossom since its acquisition of Anixter International in 2020.
More than a handful of companies on MDM's 2022 Top Distributors list garnered the reputation-based honor from Fortune.
The new international Wesco Anixter brand represents the combined organization across its CALA, EMEA and APAC regions.
Regal Rexnord, Stanley Black & Decker, Emerson Electric, Ingersoll Rand, Kennametal and other industrial suppliers also made the list.
Wesco also closed on a previously reported deal to acquire Rahi Systems Holdings, Inc. for $217 million.
The distributor of electrical, data and security products celebrated its centennial with an eventful Sept. 7 that shared a ‘New Wesco’ vision going forward. Get the details here.
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