Rexel to Acquire Wasco
Electrical distributor Rexel has agreed to acquire Wasco, a specialist in lighting solutions. The deal is expected to support Rexel's strategic growth in North America.
Electrical supplies distributor Rexel announced it has entered into an agreement to acquire Wasco, a company specializing in lighting solutions. The acquisition is anticipated to strengthen Rexel's market position within North America. Financial terms of the transaction were not disclosed.
Wasco provides a range of lighting solutions for various commercial and industrial applications. Rexel operates as a global distributor of electrical supplies, and this acquisition aligns with its strategic growth objectives, particularly in the North American market.
Rexel's CEO, Olivier Delaborde, has previously stated that acquiring Wasco will bring significant synergies and expand Rexel’s product offering. The company expects to benefit from Wasco's expertise and customer base.
The transaction is expected to close in the second half of 2024, subject to customary closing conditions. Rexel continues its strategy of pursuing acquisitions to expand its market reach and service capabilities globally.