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WESCO International, Inc., Pittsburgh, has agreed to acquire TVC Communications LLC (TVC), Annville, Pa., from Palisades Associates, a Bethesda, Md.-based private equity firm, for approximately $246.5 million. The transaction, expected to close by year-end, is subject to customary closing conditions and regulatory approvals.
TVC is a distributor of broadband communications network infrastructure products serving the cable, telecommunications and satellite industries. TVC's annualized sales as of Oct. 31, 2010, were approximately $300 million, the company said. It employs over 300 people and operates 20 locations serving markets in the United States, Canada, Latin America and Europe.
The TVC operations will continue to operate under James Manari, president and chief operating officer of TVC prior to...