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WESCO International, Inc. (NYSE: WCC), Pittsburgh, PA, provider of electrical and industrial MRO products, construction materials, and advanced integrated supply procurement outsourcing services, announced that WESCO Distribution Inc., No. 5 on MDM's list of top 25 electrical distributors, has agreed to acquire TVC Communications, L.L.C. from Palisades Associates, a Bethesda, MD-based private equity firm.
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The purchase price for TVC is "expected to be approximately $246.5 million," according to CEO John Engel.
TVC, headquartered in Annville, PA, is a distributor of broadband communications network infrastructure products serving the cable, telecommunications and satellite industries. TVC has annualized sales as of Oct. 31, 2010, of $300 million, employs over 300 employees, and operates 20 locations in the U.S., Canada, Latin America and Europe.
The acquisition expands the distributor's geographic footprint into previously untapped international markets.