Wesco International, a leading provider of business-to-business (B2B) distribution, logistics services and supply chain solutions, announced it has completed its merger with Anixter International Inc., creating a premier, industry-leading global B2B distribution and supply chain solutions company.
Upon completion of the merger, Anixter became a wholly owned subsidiary of Wesco International, the company said in a press statement.
Commenting on the merger, John Engel, Chairman, President, and Chief Executive Officer, Wesco, said, “Today marks a significant milestone for WESCO and Anixter. In combining two industry leaders with successful track records, we are creating the premier electrical, communications and utility distribution and supply chain solutions company in the world. This is a transformational combination that provides substantial value creation for our customers, supplier partners, employees, investors, and the communities in which we operate. WESCO’s capabilities in industrial, construction, and utility matched with Anixter’s expertise in communications, security, and wire and cable create an industry-leading line-up for our customers.”
“I would like to welcome all WESCO and Anixter team members to our new combined company and thank them for their outstanding dedication and service. We have been executing a detailed, rigorous and process-oriented integration planning effort over the past few months. The high degree of collaboration among and across the integration teams has been inspiring and underscores the strong cultural alignment between WESCO and Anixter. We are taking advantage of the opportunity to leverage the best talent and ideas of two successful organizations in forming our new, world class enterprise,” Engel added.
Barclays served as financial advisor to Wesco, and Wachtell, Lipton, Rosen & Katz served as legal advisor. Centerview Partners LLC served as lead financial advisor and Wells Fargo Securities, LLC also served as financial advisor to Anixter, and Sidley Austin LLP served as legal advisor.
Wesco International, a publicly traded FORTUNE 500 holding company headquartered in Pittsburgh, Pennsylvania, is a leading provider of electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturer (OEM) products, construction materials, and advanced supply chain management and logistic services.
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