WESCO Acquires Canadian Distributor of Safety Products & Announces 2013 Results

WESCO has made some major acquisitions of industrial, MRO and utility distributors in Canada over the past few years, and it continued to build its business north of the border with the acquisition of Hazmasters Inc., a Toronto-based safety products distributor.

Over the past three years, WESCO’s Canadian acquisitions have included LaPrairie, Inc., Newmarket, Ontario, a utility specialist (2013); EECOL Electric in Calgary Alberta, (2012); and Trydor Industries, Surrey, British Columbia, a utility specialist (2012); and Brews Supply, Ltd., Calgary (2011). The company acquired another safety specialist in the United States with its 2012 purchase of Conney Safety Products, Madison, Wis.

According to a press release announcing the acquisition, Hazmasters generates approximately $80 million in annual revenue from 14 branches across Canada and will expand WESCO’s presence in Canada and strengthens the company’s portfolio of MRO products and services. John Engel, WESCO’s chairman, president, and CEO said in a press release on the acquisition, “Hazmasters has an excellent reputation for providing a comprehensive offering of safety products and superior customer service to a wide range of customers across Canada.”

In other news at WESCO, the company announced its 2013 fourth quarter results. Net sales were $1.88 billion in 4Q 2013, compared to $1.64 billion in 4Q 2012, an increase of 14.3%.  Acquisitions positively impacted sales by 13.8%. WESCO’s 2013 net sales were $7.51 billion compared to $6.58 billion for 2012, an increase of 14.2%.  Acquisitions positively impacted sales by 14.6%, organic sales were flat, and foreign exchange negatively impacted sales by 0.4%.