Wesco International Acquires Ascent LLC for $185 Million to Enhance Data Center Solutions

Wesco International has agreed to acquire Ascent LLC for $185 million, enhancing its data center solutions portfolio. Ascent, known for its data center facility and property management services, has a 30% sales growth rate and $115 million in annual sales. The acquisition will expand Wesco's services, including advanced liquid cooling solutions, and deepen its presence in the growing data center market. The deal is expected to close in Q4 after regulatory approval.

Wesco International (WCC), a leading provider of business-to-business distribution, logistics services, and data center solutions [1], announced on October 31, 2024, its agreement to acquire Ascent LLC, a privately held data center facility management company based in St. Louis, Missouri [1]. The cash-free, debt-free acquisition is valued at $185 million and is expected to significantly expand Wesco's data center solutions portfolio [1].

Ascent LLC, known for its specialized data center facility and property management services, has experienced robust growth in recent years, with $115 million in trailing twelve-month sales and a three-year compound annual growth rate of 30% [1]. The company delivers comprehensive solutions for every aspect of mission-critical data center operations and infrastructure, from design and builds to maintenance and management of third-party maintenance workflows [1]. Ascent's proprietary Navigator platform offers an integrated client dashboard designed to support critical data center infrastructure and facilities [1].

The acquisition of Ascent LLC will enable Wesco to offer a broader range of data center services, including advanced liquid cooling solutions [1]. These solutions are increasingly in demand as the data center market continues to grow rapidly, driven by the increasing adoption of cloud computing and the Internet of Things (IoT) [2].

Wesco International's Chairman, President, and CEO, John Engel, expressed his enthusiasm for the acquisition, stating, "This services-based acquisition strengthens our leading data center solutions portfolio for our customers. In addition to site operations, Ascent's engineering expertise and professional services further enhance our solutions that span the entire lifecycle of the data center" [1].

With over 330 employees in the United States and Canada, Ascent LLC brings a strong team, innovative technology, and extensive customer base to the table. The acquisition is expected to close in the fourth quarter following customary regulatory approval [1].

References:
[1] Wesco International. (2024, October 31). Wesco International Announces Agreement to Acquire Ascent, a Premier Provider of Data Center Facility Management Services. Retrieved November 2, 2024, from https://stockhouse.com/news/press-releases/2024/10/31/wesco-international-announces-agreement-to-acquire-ascent-a-premier-provider-of
[2] Grand View Research. (2021, March 22). Global Data Center Liquid Cooling Market Size, Share & Trends Analysis Report By Cooling Type (Air Liquid Cooling, Immersion Liquid Cooling), By End-User, By Region And Segment Forecasts, 2021 - 2028. Retrieved November 2, 2024, from https://www.grandviewresearch.com/industry-analysis/data-center-liquid-cooling-market