WESCO to acquire Conney Safety
WESCO International Inc. announced that it has entered into a definitive agreement to acquire Conney Safety Products LLC.
Closing is expected to occur in July 2012. Conney is a distributor of MRO safety products headquartered in Madison, Wis.
With revenues of approximately $85 million, the addition of Conney Safety Products 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 for WESCO's customers, including its Global Accounts, Utility and Integrated Supply customers, the company said in a press release.
"The addition of Conney to the WESCO team supports our One WESCO growth strategy and expands our MRO supplier base, enabling us to bring additional safety products and services to our customers," said John J. Engel, WESCO's chairman and chief executive officer.
"We are pleased to become part of the WESCO team. Our companies have a similar culture and operating philosophy that will enable us to continue to provide a superior level of service to our customers, while pursuing new opportunities in an industry with significant growth potential," said Michael Wessner, Conney Safety chief executive officer.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
