WESCO Int'l (WCC) to Acquire Safety Products Distributor Conney Safety
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WESCO International, Inc. (NYSE: WCC), reports that it, through its operating subsidiary WESCO Distribution, Inc., has entered into a definitive agreement to acquire Conney Safety Products, LLC, a premier distributor of MRO safety products headquartered in Madison, Wisconsin. Closing is expected to occur in July 2012.
John J. Engel, WESCO's Chairman and Chief Executive Officer stated: "The addition of Conney to the WESCO team supports our One WESCO growth strategy and expands our MRO supplier base, enabling us to bring additional safety products and services to our customers. This acquisition is expected to be accretive to earnings by at least $0.10 per diluted share in the first year of operation."
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John J. Engel, WESCO's Chairman and Chief Executive Officer stated: "The addition of Conney to the WESCO team supports our One WESCO growth strategy and expands our MRO supplier base, enabling us to bring additional safety products and services to our customers. This acquisition is expected to be accretive to earnings by at least $0.10 per diluted share in the first year of operation."
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