WESCO International, Inc. (NYSE: WCC) on Feb 12. announced that it has sold its legacy WESCO Datacom business in Canada to Guillevin International, a Canadian distributor of industrial products.
The transaction fulfills WESCO’s commitment to divest its legacy Canadian Utility and Datacom businesses in connection with its consent agreement with the Canadian Competition Bureau related to WESCO’s merger with Anixter International, which closed on June 22, 2020. Net proceeds will be used to repay indebtedness, said WESCO.
John Engel, chairman, president, and CEO of WESCO, said, “We are pleased to complete this transaction and to satisfy the last divestiture requirement of our agreement with the Canadian Competition Bureau. This transaction is a highly successful outcome for WESCO. We will support our associates as they transition to Guillevin, and we wish them continued success. WESCO is committed to continuing to serve datacom customers in Canada, through the legacy business we acquired with Anixter.”
Learn more at http://www.wesco.com.