03:14 PM EDT, 04/01/2024 (MT Newswires) -- Wesco International ( WCC ) said Monday it has completed the sale of its Wesco Integrated Supply business to Vallen Distribution, a Nautic Partners portfolio company, for $350 million.

The sale includes Wesco's industrial maintenance, repair and operations integrated supply business in North America and Europe, the company said. The business that is being divested had annual net sales of $784 million in 2023.

Wesco said it expects to use the proceeds to reduce debt and repurchase shares.

Shares of Wesco were up almost 2% in recent trading.

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