EXHIBIT 99.1
WESCO NEWS RELEASE
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WESCO International, Inc. / Suite 700, 225 West Station Square Drive /
Pittsburgh, PA 15219
WESCO INTERNATIONAL, INC.
ANNOUNCES COMMON STOCK PUBLIC OFFERING
Contact: Stephen A. Van Oss, Senior Vice President and
Chief Financial and Administrative Officer
WESCO International, Inc. (412) 454-2271, Fax: (412) 454-2477
http://www.wescodist.com
Pittsburgh, PA, December 9, 2004 - WESCO International, Inc. [NYSE:WCC],
announced today that it is publicly offering 4,000,000 shares of its common
stock. Certain selling stockholders, including The Cypress Group LLC and a few
members of the Company's management team, are offering an additional 6,000,000
shares of common stock. The underwriters will have an option to purchase up to
1,500,000 additional shares, substantially all of which would come from The
Cypress Group LLC. The shares of common stock will be offered pursuant to
WESCO's effective shelf registration statement. Goldman, Sachs & Co. and Lehman
Brothers, Inc. are acting as joint book-runners, J. P. Morgan Securities Inc.
and UBS Securities LLC as joint lead managers, and Robert W. Baird & Co.
Incorporated and Bear, Stearns & Co. Inc. as co-managers.
WESCO intends to use the net proceeds from the sale of its common stock to repay
a portion of its outstanding 9-1/8% senior subordinated notes due 2008 through a
redemption or purchase. Pending use, WESCO may invest the remaining proceeds in
short-term investment grade securities.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of the common stock in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state. A shelf
registration statement relating to the common stock that WESCO and the selling
stockholders intend to sell has previously been filed with, and declared
effective by, the Securities and Exchange Commission. Any offer, if at all, will
be made only by means of a
prospectus, including a prospectus supplement, forming a part of the effective
registration statement.
Copies of the final prospectus supplement and accompanying prospectus, when
available, may be obtained from Goldman, Sachs & Co., 85 Broad Street, New York,
NY, 10004, Attn: Prospectus Department, telephone 212-902-1171, or from the
Prospectus Department of Lehman Brothers, Inc., 745 Seventh Avenue, New York,
New York 10019, telephone 212-526-7000.
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WESCO International, Inc. (NYSE: WCC) is a publicly traded Fortune 500 holding
company, headquartered in Pittsburgh, Pennsylvania, whose primary operating
entity is WESCO Distribution, Inc. WESCO Distribution is a leading distributor
of electrical construction products and electrical and industrial maintenance,
repair and operating (MRO) supplies, and is the nation's largest provider of
integrated supply services with 2003 annual product sales of approximately $3.3
billion. The Company employs approximately 5,350 people, maintains relationships
with 24,000 suppliers, and serves more than 100,000 customers worldwide. Major
markets include commercial and industrial firms, contractors, government
agencies, educational institutions, telecommunications businesses and utilities.
WESCO operates five fully automated distribution centers and approximately 350
full-service branches in North America and selected international markets,
providing a local presence for area customers and a global network to serve
multi-location businesses and multi-national corporations.
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The announcement of the intention to offer common stock is a forward-looking
statement which is based on a number of assumptions concerning future events
made by management and information currently available to management.
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