CSC joins forces with WESCO
October 3, 2006 -- WESCO is to acquire Communications Supply Holdings, Inc., the parent company of CSC, from Harvest Partners LLC, a New York based private equity firm. The transaction is expected to close by early November 2006.
October 3, 2006 -- Communications Supply Corporation (CSC) announced that it has entered into a definitive agreement with WESCO International, Inc. whereby WESCO will acquire Communications Supply Holdings, Inc., the parent company of CSC, from Harvest Partners LLC, a New York based private equity firm. The transaction is expected to close by early November 2006.
"CSC will continue to operate under its current management team and structure within the WESCO organization. The CSC management team will be responsible for providing leadership to WESCO's existing U.S. data communications and low voltage business," comments Steven J. Riordan, CSC's president and CEO. "WESCO's national and international scope provides our sales organization access to a world-class national distribution network and numerous Fortune 500 strategic customer relationships."
Roy W. Haley, WESCO's chairman and CEO, adds, "Both WESCO and CSC share the same commitment to unparalleled customer service while also maintaining a business culture focused on continuous improvement The combination of CSC and WESCO will create one of the most dynamic distribution businesses in North America, and we look forward to a bright future together."
WESCO is a major North American distributor of electrical construction products and electrical and industrial maintenance, repair and operating (MRO) supplies. WESCO also is one of the largest providers of integrated supply services in the U.S.
Combined calendar year 2006 revenues for CSC and WESCO are expected to approach $6.0 billion.
David Bemoras, CSC's vice president of sales and marketing, remarks, "This combination greatly strengthens the depth of service that CSC will be able to provide our customer base. Becoming part of the WESCO organization will provide CSC with the necessary infrastructure to better serve strategic national clients."
"The transaction creates significant efficiencies, our cultures fit extremely well, and the combined management team is focused on providing one-stop shopping to all WESCO customers," concludes Andrew Szafran, CSC's vice president and chief financial officer. "This transaction validates the CSC business model and we look forward to being a strategic part of the WESCO family."