WESCO International Inc (NYSE: WCC) has completed its recently announced buy of Pickering, Ontario-based Hazmasters Inc, a supplier of safety products to customers in industrial, construction, commercial, institutional and government markets. The financial details of the transaction were not published. Hazmasters was sold by U.S. private equity firm Trivest Partners, which recapitalized the company in 2011. According to the Pittsburgh, Pennsylvania-based WESCO, the acquisition is expected to be accretive to earnings by approximately $0.05 per diluted share in the first year of operation.
WESCO International Completes the Acquisition of Hazmasters
WESCO Distribution acquired Hazmasters, an independent Canadian distributor of safety products
PITTSBURGH, March 17, 2014 /PRNewswire/ — WESCO International, Inc., a provider of electrical, industrial, and communications MRO and OEM products, construction materials, and advanced supply chain management and logistics services, announced that WESCO Distribution, Inc., through its wholly-owned Canadian subsidiary, has completed the previously announced acquisition of Hazmasters, Inc., an independent Canadian distributor of safety products servicing customers in the industrial, construction, commercial, institution and government markets. This acquisition is expected to be accretive to earnings by approximately $0.05 per diluted share in the first year of operation.
WESCO International, Inc., a publicly traded Fortune 500 company headquartered in Pittsburgh, Pennsylvania, is a provider of electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and advanced supply chain management and logistic services. 2013 annual sales were approximately $7.5 billion. The company employs approximately 9,200 people, maintains relationships with over 25,000 suppliers, and serves over 75,000 active customers worldwide. Customers include commercial and industrial businesses, contractors, government agencies, institutions, telecommunications providers, and utilities. WESCO operates nine fully automated distribution centers and approximately 475 full-service branches in North America and around the world, providing a local presence for customers and a global network to serve multi-location businesses and multi-national corporations.
The matters discussed herein may contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from expectations. Certain of these risks are set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013, as well as the Company’s other reports filed with the Securities and Exchange Commission.
SOURCE WESCO International, Inc.
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