WESCO Distribution acquires Needham Electric Supply
WESCO International announced that WESCO Distribution Inc. has acquired Needham Electric Supply.
Headquartered in Canton, Mass., Needham generates approximately $115 million in annual revenues with 24 locations in Massachusetts, New Hampshire, and Vermont. Needham is an electrical distributor focused on the commercial construction and lighting national account markets.
"Needham Electric Supply is a well-established wholesale electrical distributor with long-standing customer and supplier relationships in New England and includes a national lighting business that serves customers across the United States. We welcome the Needham team to WESCO. This acquisition is expected to be accretive to earnings by approximately $0.04 per diluted share in the first year of operation," said John J. Engel, WESCO's chairman, president, and chief executive officer.
Joseph Cincotta, Needham's CEO, commented: "We are pleased to join the WESCO team and look forward to working together to pursue new business opportunities and enhance the breadth of services and products for our customers."
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
