WESCO International Inc. (NYSE: WCC), Pittsburgh, Pennsylvania, has sold its legacy WESCO Datacom business in Canada to Guillevin International, a Canadian distributor of industrial products. Financial terms of the deal weren’t disclosed.
According to WESCO, the transaction fulfills the company’s “commitment to divest its legacy Canadian Utility and Datacom businesses in connection with its Consent Agreement with the Canadian Competition Bureau related to WESCO’s merger with Anixter International, which closed on June 22, 2020. Net proceeds will be used to repay indebtedness.”
WESCO on Feb. 2 said it had sold its utility business in Canada to Rexel Canada, a wholly owned subsidiary of France’s Rexel Group.
“We are pleased to complete this transaction and to satisfy the last divestiture requirement of our agreement with the Canadian Competition Bureau,” said John Engel, WESCO’s chairman, president and CEO. “This transaction is a highly successful outcome for WESCO. We will support our associates as they transition to Guillevin, and we wish them continued success. WESCO is committed to continuing to serve datacom customers in Canada, through the legacy business we acquired with Anixter.”
Luc Rodier, Guillevin’s president and CEO, said: “We have targeted the WESCO business to launch our Datacom division because of the team’s agility, expertise and in-depth knowledge of products from the industry’s leading suppliers. This seasoned team will allow Guillevin to offer its clients a wide range of datacom solutions and to bid on leading projects in this attractive sector. It also allows us to enhance our organic development by offering a more exhaustive range of services, in order to better serve our customers.”