Wesco International announced that it has entered into a definitive agreement to sell its Wesco Integrated Supply (WIS) business to Vallen Distribution, a portfolio company of Nautic Partners, LLC, for a purchase price of $350 million. The Company expects to use the proceeds to reduce debt and repurchase shares.
This sale will include all of Wesco’s industrial maintenance, repair, and operations (MRO) integrated supply business in North America and Europe. The business that is being divested had annual net sales of approximately $784 million in 2023.
The sale is anticipated to close in the second quarter following customary regulatory approval.
KEY QUOTES:
“This divestiture supports our portfolio management strategy to prioritize investments and resources in the areas of our business that offer the strongest growth and profit potential. Our WIS team has consistently provided exceptional value to our customers over the years. I am very proud of their accomplishments and thank them for their outstanding customer service.”
- John Engel, Chairman, President, and CEO of Wesco
