WESCO Distribution buys Needham Electric SupplyStaff writer ▼ | November 3, 2015
WESCO Distribution 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.
Acquisition Needham generates approximately $115 million in annual revenues
Mr. John J. Engel, WESCO's chairman, president, and chief executive officer, said: "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."
Mr. 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." ■