Private Equity Firm Buys Large WESCO Stake
Leonard Green & Partners (LGP), a Los Angeles based private equity firm has acquired a substantial stake in WESCO International.
In a July 14 SEC filing, WESCO cites that LGP acquired 5.7 million shares of the supply chain solutions company, which correlates to a 11.4% stake in WESCO.
The LGP investment portfolio is diverse, including companies such as Joann Fabric & Craft Stores, Lucky Brand and Mister Car Wash. The firm also invests in distribution and industrial sectors with holdings such as SRS Distribution, Charter NEX and ProMach.
WESCO, which trades on the New York Stock Exchange, saw its stock price pop +9.5% on Wednesday, closing at $41.34. In June, WESCO closed on its acquisition of electrical distribution chain, Anixter, which added over 300 locations to WESCO's $17B business.
|
|
Read the SEC Filing. |
Don’t miss the next big lighting story…Click here to subscribe to the inside.lighting InfoLetter |