Wesco International to buy Canadian rival EECOL Electric for $1.16 billion
18 Oct 2012
US electrical products distribution and services company Wesco International Inc yesterday said that it will buy its Canadian rival EECOL Electric Corp for about C$1.14 billion ($1.16 billion) in order to expand in South America.
Founded in 1919, EECOL Electric is one of Canada's leading full-line distributors of electrical equipment, products, and services with approximately $900 million in annual sales.
The Alberta, Calgary-based company has more than 20,000 customers, and operates in 57 locations across Canada, 20 in South America, including Chile, Argentina, Peru, and Ecuador.
EECOL has a strong warehouse-based business focused on serving industrial, oil, gas, mining, utility, and commercial and residential construction customers.
A Fortune 500 company, Pittsburgh, Pennsylvania-based Wesco is a leading provider of electrical, industrial, and communications maintenance, repair and operating and original equipment manufacturers products, construction materials, and advanced supply chain management and logistics services.
The company employs approximately 7,500 people, has more than 18,000 suppliers, and has around 65,000 customers worldwide. Customers include commercial and industrial businesses, contractors, government agencies, institutions, telecommunications providers and utilities.