WESCO International, Inc., Pittsburgh, through WESCO Distribution, Inc., has acquired Needham Electric Supply. Headquartered in Canton, Mass., Needham generates approximately $115 million in annual revenues through 24 locations serving commercial construction and lighting national accounts markets in Massachusetts, New Hampshire and Vermont.
“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,” said John Engel, WESCO chairman, president, and CEO. “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.”
“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,” Needham CEO Joseph Cincotta said in a WESCO release.
Needham was ranked #68 in the 2015 Electrical Wholesaling Top 200 list of electrical distributors based on 2014 sales. Needham has grown over the years organically and by acquisition. The company bought Midstate Electric Supply in Berlin, Vt., in 2011 and GTM Electric Supply in St. Albans, Vt., in 2013, giving it six locations in Vermont. It also made a string of acquisitions in 2007-2009 that tripled the number of its locations.
WESCO has been more active on the acquisition trail lately, winning a deal for Hill Country Electric, Austin, Texas, earlier this year after a few years of smaller niche acquisitions and several purchases in Canada.
