M&A Deal Summary

CD&R Acquires WESCO

On February 1, 1994, private equity firm CD&R acquired distribution company WESCO from Westinghouse Electric for 330M USD

Acquisition Highlights
  • This is CD&R’s 1st transaction in the Distribution sector.
  • This is CD&R’s 34th largest (disclosed) transaction.
  • This is CD&R’s 4th transaction in the United States.
  • This is CD&R’s 1st transaction in Pennsylvania.
Investment Fate
  • WESCO was sold to a consortium of financial buyers in 1998 for 1.1B USD.
  • WESCO went public in 1999.

M&A Deal Summary

Date 1994-02-01
Target WESCO
Sector Distribution
Buyer(s) CD&R
Sellers(s) Westinghouse Electric
Deal Type Divestiture
Deal Value 330M USD

Target

WESCO

Pittsburgh, Pennsylvania, United States
WESCO's corporate headquarters in downtown Pittsburgh, Pennsylvania.
WESCO's corporate headquarters in downtown Pittsburgh, Pennsylvania.
WESCO is a distributor of electrical, data communications, general maintenance, repair, and operating (MRO) and electrical OEM products. WESCO was founded in 1922 and is based in Pittsburgh, Pennsylvania.

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Buyer(S) 1

Buyer

CD&R

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clayton, Dubilier & Rice LLC (CD&R) is a large private equity firm that targets non-core divestitures of large corporations, growth equity financings, traditional buyouts, and corporate/family partnerships. CD&R looks for opportunities in North America, Western Europe, and Asia and will consider businesses in a wide range of sectors including consumer/retail, healthcare, industrials, and services. Prospective companies generally lead their respective markets, have stable cash flows, and possess competitive advantages through differentiated products, services, or processes. CD&R was formed in 1978 and has offices in New York City and London.


DEAL STATS #
Overall 4 of 92
Sector (Distribution) 1 of 17
Type (Divestiture) 4 of 25
State (Pennsylvania) 1 of 3
Country (United States) 4 of 67
Year (1994) 1 of 1
Size (of disclosed) 34 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1993-10-21 Remington

Madison, North Carolina, United States

Remington designs, produces and sells sporting goods products for the hunting and shooting sports markets, as well as military, government and law enforcement markets. Founded in 1816 in upstate New York, the Company is one of the US' oldest operating manufacturer.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1995-11-15 Lexmark International

Lexington, Kentucky, United States

Lexmark International is a manufacturer and supplier of printing, imaging, device management, managed print services (MPS), document workflow, and business process and content management solutions. Lexmark International was founded in 1990 and is based in Lexington, Kentucky.

Sell -

Seller(S) 1

SELLER

Westinghouse Electric

Cranberry Township, Pennsylvania, United States

Category Company
Founded 1884
Sector Energy Services and Equipment
DESCRIPTION

Westinghouse Electric is providing nuclear energy technologies, products and services to utilities around the world. Its mission is to focus on a much broader goal; using the power of intellect, collaboration and innovation to build on the legacy of our founder, and to create a cleaner, safer and sustainable carbon-free future for generations to follow. Westinghouse Electric was founded in 1884 and is based in Cranberry Township, Pennsylvania.


DEAL STATS #
Overall 2 of 2
Sector (Distribution) 1 of 1
Type (Divestiture) 2 of 2
State (Pennsylvania) 1 of 1
Country (United States) 2 of 2
Year (1994) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1989-11-29 Tcom

Columbia, Maryland, United States

Tcom is a designer, manufacturer and operator of tethered aerodynamically-stabilized aerostats of up to 233 feet in length that served as platforms for a wide variety of electronic payloads (e.g., radars, listening devices, relays) used by various governments for work such as drug interdiction and surveillance. Tcom was founded in 1971 and is based in Columbia, Maryland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-01 Astare SA

Orsay, France

Astare SA is a nuclear engineering company produces nuclear related products.

Buy -