WESCO International, Inc., parent of WESCO Distribution, Pittsburgh, Pa., filed for an initial public offering of approximately $175 million in common stock.
Proceeds will go to reduce WESCO's $596 million debt. Doing so will increase WESCO's capacity to take on new debt to finance acquisitions and expansions, said Steve Burleson, chief financial officer of WESCO.
WESCO Distribution's previous parent, CDW Holdings, had filed for an IPO last spring, but instead sold WESCO to a team of managers backed by Cypress Group LLC, New York, N.Y.