Nexans completes acquisition of La Triveneta Cavi, expanding European reach
06 Juin 2024 - 5:30PM
Nexans completes acquisition of La Triveneta Cavi, expanding
European reach
Nexans completes acquisition of La Triveneta Cavi,
expanding European reach
_PRESS
RELEASE_
- Nexans has taken a
significant leap forward in its electrification strategy by
completing the acquisition of the iconic Italian company La
Triveneta Cavi, with recognized excellence in the European medium-
and low-voltage cable segments.
- La Triveneta Cavi boasts
700 skilled employees across 4 production units and generates
over 800 million euros in sales.
- Nexans, with its proven
track record of integrating new players, is poised to accelerate La
Triveneta Cavi’s growth in key sectors such as building wire,
fire-resistant cables, and renewable energy
solutions.
Paris, June 6, 2024 – Nexans, a
leader in the global energy transition, today announces the
completion of its acquisition of La Triveneta Cavi, one of the
European leader in medium- and low-voltage cables. The acquisition
is a significant leap forward in Nexans’ strategy to become an
electrification pure player. La Triveneta Cavi brings a rich
heritage of innovation, cutting edge manufacturing and logistics
and a seasoned management team to further accelerate Nexans’ value
creation in electrification.
Based in Italy since 1965, La Triveneta Cavi
primarily manufactures low-voltage cables for building,
infrastructure, fire-retardant cable systems and renewable energy
applications across 30 countries. The company operates a
best-in-class, vertically integrated network with three cable
production units featuring highly efficient logistic capabilities,
in addition to a world class “in-house” copper drawing facility.
The company boasts a workforce of approximately 700 skilled
employees and has generated current revenues of more than 800
million euros over the last twelve months.
The enterprise value of around 520 million euros
represents a multiple of 5.6x 2023 EBITDA pre-synergies and 4.6x
post run rate synergies. It will be high-single-digit accretive to
earnings per share (EPS) from year one. Nexans’ financing of the
acquisition will have limited impact on run rate leverage to remain
≤1.0x.
Christopher Guérin, Nexans’ CEO said: “The
acquisition of La Triveneta Cavi is fully in line with our vision
of Nexans as a global electrification pure player. This move
significantly strengthens our presence in the electrification
segment , where we have successfully completed two acquisitions
over the past two years and it will further enable the acceleration
of new sustainable offer launches in high-demand sectors. Last but
not least, I cannot be more delighted to welcome the talented
people of La Trivineta Cavi to the Nexans family.”
About Nexans
For over a century, Nexans has played a crucial
role in the electrification of the planet and is committed to
electrifying the future. With approximately 28,500 people in 41
countries, the Group is paving the way to a new world of safe,
sustainable and decarbonized electricity that is accessible to
everyone. In 2023, Nexans generated 6.5 billion euros in standard
sales. The Group is a leader in the design and manufacturing of
cable systems and services across four main business areas: Power
Generation & Transmission, Distribution, Usage and Industry
& Solutions. Nexans was the first company in its industry to
create a Foundation supporting sustainable initiatives, bringing
access to energy to disadvantaged communities worldwide. The Group
is recognized on the CDP Climate Change A List as a global leader
on climate action and has committed to Net-Zero emissions by 2050
aligned with the Science Based Targets initiative (SBTi).
Nexans. Electrify the future.
Nexans is listed on Euronext Paris, compartment
A.For more information, please visit
www.nexans.com
Contacts:
Communication Mael Evin (Havas
Paris) Tel. : +33 (0)6 44 12 14 91nexans_h@havas.com
Emmanuel Guinotemmanuel.guinot@nexans.com
Maëllys Leosticmaellys.leostic@nexans.com
|
Investor
relations Elodie
Robbe-MouillotTel.: +33 (0)1 78 15 03
87elodie.robbe-mouillot@nexans.com |
- 2024_06_06_pr-Nexans completes acquisition of La Triveneta
Cavi, expanding European reach
Nexans (EU:NEX)
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