WESCO International Inc. (NYSE: WCC), Pittsburgh, PA, a distributor of electrical, industrial, and communications MRO and OEM products, construction materials, and advanced supply chain management and logistics services, has agreed to buy Conney Safety Products LLC, Madison, WI, a distributor of MRO safety products with about $85 million in revenue.
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The deal is expected to close in July.
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The addition of Conney Safety Products is expected to strengthen WESCO's safety products and service portfolio and enhance the company's e-commerce capabilities. Conney will function as what WESCO calls “a center of excellence” supporting the safety needs for WESCO's customers, including its Global Accounts, Utility and Integrated Supply customers.
John J. Engel, WESCO's CEO, said: "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."
Michael Wessner, Conney Safety Products' CEO, said: "We are pleased to become part of the WESCO team. Our companies have a similar culture and operating philosophy that will enable us to continue to provide a superior level of service to our customers, while pursuing new opportunities in an industry with significant growth potential."
Conney Safety Products was purchased by private equity firm Caxton-Iseman Capital in 2007.
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