Tag: John Engel
Wesco expands portfolio of services helping customers navigate global marketplace
May 24, 2023SSN Staff
PITTSBURGH – On May 24, B2B distributor, logistics service and supply chain solutions company Wesco International announced the expansion of its portfolio of services the company says will help customers navigate an increasingly dynamic global marketplace.
Wesco said that the newly expanded capabilities in its portfolio of services reflect their mission to build, connect, power and protect the world. New additions include a new Innovation Partner Ecosystem that features an impressive...
Wesco International Q4 and 2022 results “stellar”
February 16, 2023SSN Staff
PITTSBURGH – Wesco International shoots for the stars this week after revealing an impressive performance following its financial postmortem for 2022 and fourth fiscal quarter results.
At a glance the company displayed record net sales of $5.6 billion in the fourth quarter, up 15 percent year-over-year (YOY). There was operating profit of $382 million with an operating margin of 6.9 percent (Adjusted EBITDA of $451 million, up 41 percent YOY; adjusted EBITDA margin of 8.1...
Anixter accepts $4.5 billion buyout offer from WESCO
January 15, 2020SSN Staff
PITTSBURGH and GLENVIEW, Ill.—On Jan. 6, after a month-long bidding war with an affiliate of private equity firm Clayton, Dubilier & Rice, which first proposed purchasing Anixter for $3.8 billion in October 2019, the Glenview, Illinois-based company announced a merger agreement with Pittsburgh-based WESCO International.
Boards of both Anixter and WESCO unanimously approved a $4.5 billion cash-and-stock deal, according to the announcement. The agreement needs shareholders' and regulators'...