Wesco International (NYSE: WCC) today announced it has completed the purchase of Rahi Systems Holdings, Inc., a leading provider of global hyperscale data center solutions. Wesco previously announced its plan to acquire Rahi on September 7, 2022.
The final purchase price of $217 million represents approximately 7.5x Rahi’s projected trailing twelve months adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) as of September 30. Rahi Systems serves the full lifecycle of data center solutions by helping their customers manage and simplify technology. With this acquisition, Wesco will combine Rahi with its Communication and Security Solutions (CSS) strategic business unit.
“Rahi’s extensive services portfolio strengthens our leading data center solution offerings for our global customers,” said John Engel, Chairman, President and CEO of Wesco. “This acquisition, the first since the transformational combination of Wesco and Anixter, highlights our continued investment in the high growth data center segment and further expands cross-sell opportunities across our company.”
“With over 900 employees in 25 countries and trailing 12-month sales of approximately $400 million, Rahi provides complementary global coverage and enhances our full suite of data center solutions for contractors, integrators and end-user customers,” said Bill Geary, Executive Vice President and General Manager, Wesco Communications and Security Solutions. “This significant investment fuels growth for our technology focused customers, who can now leverage the combined global footprint, infrastructure and IT expertise of Wesco.”
About Wesco
Wesco International (NYSE: WCC) builds, connects, powers and protects the world. Headquartered in Pittsburgh, Pennsylvania, Wesco is a FORTUNE 500® company with more than $18 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 18,000 people, partners with the industry’s premier suppliers, and serves thousands of customers around the world, including more than 90% of FORTUNE 100® companies. With nearly 1,500,000 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, institutions, telecommunications providers, and utilities. Wesco operates approximately 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 multi-national corporations.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221101006155/en/
Contacts
Corporate Communications
Jennifer Sniderman
Sr. Director, Corporate Communications
717-579-6603