Wesco International Finalizes Purchase of Ascent, a Premier Provider of Data Center Facility Management Services

Rhea-AI Summary

Wesco International (NYSE: WCC) has completed its acquisition of Ascent, a St. Louis-based provider of data center facility management services. Ascent brings $115 million in trailing twelve-month sales with a three-year sales CAGR exceeding 30%. The company employs over 300 people across the U.S. and Canada, offering comprehensive site operations services including maintenance, critical systems repairs, and advanced liquid cooling solutions.

The acquisition enhances Wesco's data center solutions portfolio, adding Ascent's expertise in engineering and design-build consultation services, along with their proprietary Navigator platform for infrastructure management. This strategic move strengthens Wesco's end-to-end service capabilities in the data center sector.

Positive

• Acquisition brings $115M in additional revenue with strong growth (30% CAGR)
• Expands service portfolio with high-value data center management capabilities
• Adds proprietary technology platform (Navigator) to Wesco's offerings
• Increases geographic presence with 300+ skilled employees in US and Canada

Negative

• None.

News Market Reaction

-0.97%

1 alert

-0.97% News Effect

On the day this news was published, WCC declined 0.97%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

PITTSBURGH, Dec. 6, 2024 /PRNewswire/ -- Wesco International (NYSE: WCC) today announced it has completed its purchase of Ascent, a privately held company headquartered in St. Louis, Missouri and a premier provider of data center facility management services. Wesco previously announced its plan to acquire Ascent on October 31.

Ascent, known for its specialized data center facility and property management services, has $115 million in trailing twelve-month sales as of June 30 and a three-year sales compound annual growth rate in excess of 30%. With more than 300 employees in the U.S. and Canada, Ascent provides a full suite of site operations services, including staffing, facility-wide maintenance, critical systems repairs, 24x7 emergency services, management of third-party maintenance workflows and advanced liquid cooling solutions. In addition, Ascent's proprietary Navigator platform provides an integrated client dashboard designed to support critical infrastructure and facilities.

"Wesco continues to expand our leading data center solutions offering," said John Engel, Chairman, President and CEO of Wesco. "Ascent's expertise in engineering and design-build consultation services, in addition to daily site operations, extends our suite of capabilities and solutions that serve the entire lifecycle of the data center."

"We are very pleased to welcome Ascent's talented team members to Wesco. The Ascent team further extends our end-to-end service offerings for the data center — including advanced liquid cooling solutions — and adds significant capabilities to our portfolio of software and services to power business results and efficiencies for our customers. We are eager to build upon our differentiated value proposition and offer more opportunities to collaborate with our contractor and supplier partners," said Bill Geary, Executive Vice President and General Manager, Wesco Communications and Security Solutions.

About Wesco
Wesco International (NYSE: WCC) builds, connects, powers and protects the world. Headquartered in Pittsburgh, Pennsylvania, Wesco is a FORTUNE 500® company with $22 billion in annual sales and a leading provider of business-to-business distribution, logistics services and supply chain solutions. Wesco offers a best-in-class product and services portfolio of Electrical and Electronic Solutions, Communications and Security Solutions, and Utility and Broadband Solutions. The Company employs approximately 20,000 people, partners with the industry's premier suppliers, and serves thousands of customers around the world. With millions of products, end-to-end supply chain services, and leading digital capabilities, Wesco provides innovative solutions to meet customer needs across commercial and industrial businesses, contractors, government agencies, educational institutions, telecommunications providers, and utilities. Wesco operates nearly 800 branches, warehouses and sales offices in more than 50 countries, providing a local presence for customers and a global network to serve multi-location businesses and global corporations.

Media Contact:
Jennifer Sniderman
Vice President, Corporate Communications
717-579-6603

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SOURCE Wesco International

FAQ

What is the revenue contribution of Ascent to Wesco (WCC)?

Ascent brings $115 million in trailing twelve-month sales as of June 30, with a three-year sales compound annual growth rate exceeding 30%.

How many employees does Ascent bring to Wesco (WCC)?

Ascent brings over 300 employees located across the United States and Canada.

What services does Ascent add to Wesco's (WCC) portfolio?

Ascent adds site operations services, facility maintenance, critical systems repairs, 24x7 emergency services, third-party maintenance management, advanced liquid cooling solutions, and the Navigator platform for infrastructure management.

When did Wesco (WCC) announce the Ascent acquisition?

Wesco announced its plan to acquire Ascent on October 31, 2024, and completed the acquisition on December 6, 2024.