Posted June 8, 2010
WESCO sells interest in LADD Industries
WESCO International has sold its 40% interest in LADD Industries LLC to Deutsch Engineered Connecting Devices Inc.
LADD Industries is the exclusive authorized U.S. distributor for Deutsch Industrial, specializing in distribution, marketing, and technical support for Deutsch Industrial electrical connectors and accessories.
WESCO received consideration of $40 million plus repayment of a $15 million promissory note and accrued interest. The proceeds are expected to be used to reduce variable rate debt.
