Company: WCC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000929008-25-000023
Chunk: 83

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 8
Chunk 83
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 Other current and noncurrent assets45.0 Total assets$262.5 LiabilitiesAccounts payable$20.9 Accrued payroll and benefit costs7.9 Other current and noncurrent liabilities46.9 Total liabilities$75.7 Fair value of net assets acquired, including goodwill and intangible asset$186.8 (1)    Consists of a customer relationship intangible asset with an estimated useful life of 15 years.

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Table of Contents   WESCO INTERNATIONAL, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)(unaudited)

Independent Electric Supply Inc.Effective July 1, 2024, the Company acquired 100% of the equity securities of Independent Electric Supply Inc. (“IES”), a full-line electrical distributor headquartered in Ontario, Canada for $13.2 million, net of cash acquired.entroCIMOn June 3, 2024, the Company acquired the assets and liabilities held by Warez, LLC and Hepta Systems, LLC, which owned and operated the entroCIM business (collectively, “entroCIM”). entroCIM is an innovator in data center and building intelligence software. The total fair value of consideration for the acquisition of entroCIM of $36.5 million includes total cash consideration of $30.1 million, net of cash acquired, and contingent consideration not to exceed $8.0 million. The purchase consideration was allocated to a developed software intangible asset with an estimated fair value of $8.0 million based on an income valuation method, with the excess of $29.0 million allocated to goodwill in the Company’s CSS reportable segment.

Wesco Integrated Supply (“WIS”) Divestiture

On April 1, 2024, Wesco Distribution, Inc. (“Wesco Distribution”) completed the sale of its WIS business for total consideration of $354.9 million, which was adjusted for net working capital, closing cash, and closing indebtedness. The WIS business, located primarily in the U.S. and Canada, was part of the UBS reportable segment and provided products and services to large industrial and commercial end-users to support their maintenance, repair, and operating spend. The Company recognized a gain from the sale of $122.2 million, which was recorded as a component of other income, net in the Consolidated Statement of Income and Comprehensive