Wesco Agrees To Sell Integrated Supply Business To Vallen Distribution

(RTTNews) - Wesco International Inc. (WCC), a logistics and distribution company, Friday announced that it has entered into a definitive agreement to sell its Integrated Supply business to Vallen Distribution, Inc., a portfolio company affiliated to Nautic Partners, LLC, for $350 million.

The proceeds will be used to reduce debt and repurchase shares as per the company.

The sale will consist of all of Wesco's industrial maintenance, repair, and operations integrated supply business in North America and Europe. This business had an annual sale of around $784 million in 2023.

The transaction is expected to close in the second quarter.

In pre-market activity, WESCO shares are trading at $145.51, up 0.69% on the New York Stock Exchange.