WESCO International, Inc., Pittsburgh, through WESCO Distribution, Inc., has acquired Needham Electric Supply. Headquartered in Canton, Mass., Needham generates approximately $115 million in annual revenues through 24 locations serving commercial construction and lighting national accounts markets Massachusetts, New Hampshire, and Vermont.
“Needham Electric Supply is a well-established wholesale electrical distributor with long-standing customer and supplier relationships in New England and includes a national lighting business that serves customers across the United States,” said John Engel, WESCO Chairman, President, and CEO. “We welcome the Needham team to WESCO. This acquisition is expected to be accretive to earnings by approximately $0.04 per diluted share in the first year of operation.”
“We are pleased to join the WESCO team and look forward to working together to pursue new business opportunities and enhance the breadth of services and products for our customers,” a WESCO release quoted Needham CEO Joseph Cincotta as saying.
Needham was ranked #68 in the 2015 Electrical Wholesaling Top 200 list of electrical distributors based on 2014 sales.
