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WESCO files for IPO

April 1, 2003
WESCO International, Inc., parent of WESCO Distribution, Pittsburgh, Pa., filed for an initial public offering of approximately $175 million in common

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.

About the Author

Doug Chandler | Senior Staff Writer

Doug has been reporting and writing on the electrical industry for Electrical Wholesaling and Electrical Marketing since 1992 and still finds the industry’s evolution and the characters who inhabit its companies endlessly fascinating. That was true even before e-commerce, LED lighting and distributed generation began to disrupt so many of the electrical industry’s traditional practices.

Doug earned a BA in English Literature from the University of Kansas after spending a few years in KU’s William Allen White School of Journalism, then deciding he absolutely did not want to be a journalist. In the company of his wife, two kids, two dogs and two cats, he spends a lot of time in the garden and the kitchen – growing food, cooking, brewing beer – and helping to run the family coffee shop.

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