Pittsburgh-based Wesco International recently entered into an agreement to purchase Missouri-based Ascent LLC., a specialized data center facility and property management services provider, for $185 million.
The purchase allows Wesco to strengthen its data center solutions portfolio and add engineering expertise and professional services.
“With more than 330 employees in the United States and Canada, Ascent’s strong team, innovative technology, and extensive customer base make it an ideal pairing with Wesco Data Center Solutions,” said Bill Geary, Wesco Communications and Security Solutions executive vice president and general manager. “This acquisition will allow us to further extend our end-to-end service offerings — including advanced liquid cooling solutions — in collaboration with our supplier and contractor partners to meet the demands of the rapidly growing data center market.”
The deal is expected to close during the fourth quarter and is subject to customary regulatory approval.
Ascent’s sales are growing at a three-year sales compound annual growth rate of 30 percent, and the company had $115 million in trailing twelve-month sales.
Wesco provides business-to-business distribution, logistics services, and supply chain solutions. It employs approximately 20,000 people worldwide at nearly 800 branches, warehouses, and sales offices in more than 50 countries. Annual sales total more than $22 billion.