WESCO Acquires Anixter in $4.5 Billion Dollar Deal
After bidding for the company for months, Wesco International Inc. (WESCO) announced in 2020 that it has completed the acquisition for Anixter International, a supplier for cabling, security solutions and wire and cable services. Due to both companies previously being industry leaders, the move will create a world leader in electrical communications and utility distribution. Wesco’s Chief Executive Officer (CEO), John Engel, revealed that as a result of the company’s acquisition, there will be cross-selling opportunities which will enable the company to offer more solutions to customers.
COVID|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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