In another move to expand into additional product areas beyond its core focus on the electrical market, WESCO International Inc., Pittsburgh, Pa., announced plans to acquire Conney Safety Products, Madison, Wis., a distributor of MRO safety products that does approximately $85 million in annual sales, and Trydor Industries, a utility specialist based in Surrey, British Columbia.
With sales of approximately $35 million and offices in Surrey, Calgary and Edmonton, Trydor Industries (Canada), Ltd. is a full-line distributor of high-voltage electrical products and services addressing the transmission, substation and distribution network needs for utilities, independent power producers and utility contractors in Canada.
In a press release announcing the deal, John Engel, WESCO's chairman and CEO said, “Combining the expertise and customer base of Trydor Industries and Brews Supply, which we acquired in October 2011, gives us a strong platform to grow our utility business in Canada.”
According to a press release announcing the Conney acquisition, the deal is expected to significantly strengthen WESCO's safety products and service portfolio and enhance the company's e-commerce capabilities. Conney will function as a center of excellence supporting the safety needs of WESCO's customers, including its global accounts, utility and integrated supply customers.
Last year, the company acquired RECO, a Cincinnati-based automation specialist; RS Electronics, Livonia, Mich., a distributor of industrial electronic components; and four-location Brews Supply, a distributor of industrial, utility and commercial products based in Calgary, Alberta.
With $5.98 billion in North American sales, WESCO ranks #2 in EW's Top 200 listing. At approximately $58 per share at press-time, the company's stock is up roughly 75% since its recent low of approximately $32 per share in early October, but is down about 16% from a recent high of approximately $67 per share in early May.