Rexel takes over the Canadian sales company from WESCO
Rexel announced on 2nd February that it had acquired WESCO International's Canadian subsidiary (WESCO Canada Utility). WESCO had merged with Anixter in June 2020 and in this context agreed with the Canadian competition authority that they would sell their Canadian sales company in return. The net proceeds of this deal would be used to repay WESCO's debt.
WESCO Canada operates in an environment where hydropower accounts for more than 60% of electricity generation and more than 2/3 comes from green energy. The company operates four offices in Canada with around 60 employees and sales of over USD 70 million (EUR 58 million).
This is a unique opportunity for Rexel to accelerate its development in Canada in the attractive and environmentally friendly hydropower business and to benefit from the recurring service revenues.
With this takeover, Rexel also wants to prove that it has repositioned itself in the recent past and is ready again to take up its acquisition strategy and take over companies that complement its own activities and product range in order to increase the company's value.