PITTSBURGH, Dec. 20, 2013 /PRNewswire/ — WESCO International, Inc. (NYSE: WCC) announced today that WESCO Distribution, Inc., through its wholly-owned Canadian subsidiary, has entered into a definitive agreement to acquire LaPrairie, Inc. Closing is expected to occur in January 2014.
LaPrairie generates approximately $30 million in annual revenue from a single location in Newmarket, Ontario. LaPrairie is a wholesale distributor of electrical products servicing the transmission, distribution, and substation needs for utilities and utility contractors for the last 25 years across Ontario, Quebec, and Atlantic Canada. The addition of LaPrairie further expands WESCO’s presence in Canada and strengthens our utility product and services portfolio.
Mr. John J. Engel, WESCO’s Chairman, President and Chief Executive Officer, stated, “LaPrairie is a well-regarded distributor of electrical products with a strong technical sales force that has developed long-standing relationships with utility customers. This acquisition is expected to be accretive to earnings by approximately $0.03 per diluted share in the first year of operation.”Tagged with tED