WESCO Acquires Safety Products Distributor

In another move to expand into additional product areas beyond its core focus on the electrical market, WESCO International Inc., Pittsburgh, Pa., announced plans to acquire Conney Safety Products, Madison, Wis., a distributor of MRO safety products that does approximately $85 million in annual sales. The deal is expected to close next month.

According to a press release announcing the acquisition, the addition of Conney Safety Products is expected to significantly strengthen WESCO’s safety products and service portfolio and enhance the company’s e-commerce capabilities. Conney will function as a center of excellence supporting the safety needs of WESCO’s customers, including its global accounts, utility and integrated supply customers.

John J. Engel, WESCO’s chairman and CEO, said in that press release, “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.”

WESCO also recently acquired Trydor Industries, a utility specialist based in Surrey, British Columbia (see Electrical Marketing’s June 8 issue). Last year, the company acquired RECO, a Cincinnati-based automation specialist; RS Electronics, Livonia, Mich., a distributor of industrial electronic components; and four-location Brews Supply, a distributor of industrial, utility and commercial products based in Calgary, Alberta.

With $5.98 billion in North American sales, WESCO ranks #2 on Electrical Wholesaling magazine’s 2012 listing of the Top 200 distributors. At approximately $58 per share at press-time, the company’s stock is up roughly 75% since its recent low of approximately $32 per share in early October, gbut is down about 16% from a recent high of approximately $67 per share in early May.