New Global Wesco Anixter Brand Name Unveiled
Wesco acquired security-focused distributor Anixter back in 2020. New Wesco Anixter represents united brand name.
Wesco acquired security-focused distributor Anixter back in 2020. New Wesco Anixter represents united brand name.
Rothstein is a 30-year executive in the security industry, and most recently led Wesco/Anixter’s $2 billion global security and fire business.
Following the similar sale of its Canadian utility business, the move was required to meet agreements as part of Wesco’s Anixter acquisition.
Net sales for the fourth quarter increased 97%, which the wholesale distributor attributes in large part to acquiring rival Anixter in 2020.
The deal partially fulfills Wesco’s pledge to divest its Canadian utility and datacom businesses in connection to its merger with Anixter.
In addition to Anixter, the Safe Zone Gunfire Detection System is available through ADI, Wesco and many other mid-market regional distributors.
The transaction was in the works since last year and getting to this point required Wesco to fight off a private equity firm that wanted to buy Anixter.
The transaction is expected to close in the second or third quarter of 2020, subject to the satisfaction of remaining customary closing conditions.
Anixter announced plans in October to be acquired by a Clayton, Dubilier & Rice affiliate for $3.8 billion; however, the deal allowed for better proposals.
Rival bidder Clayton, Dubilier & Rice will have five business days to negotiate a counter offer, according to Anixter’s announcement.
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