Legrand pursues its investments in buoyant segments
23 Avril 2024 - 8:00AM
Business Wire
Acquisition of Enovation1 in assisted living
and healthcare and of Netrack in datacenters
Regulatory News:
Legrand (Paris:LR) is actively implementing its development
strategy with two acquisitions in the promising areas of assisted
living, healthcare and datacenters, further strengthening the
Group's leadership in its faster expanding segments.
Enovation is the Dutch leader in healthcare software in
the market for connected health and assisted living.
Specializing in B-to-B, Enovation's offerings include software
for remote monitoring of elderly and dependent persons using
connected objects, sharing health information and data, and
coordinating care between facilities, providers, and
professionals.
With a loyal customer base and a largely recurring revenue
stream, Enovation has a significantly higher adjusted operating
margin than Legrand.
Enovation is based in Rotterdam, employs over 350 people and has
annual sales of over €60 million.
This acquisition rounds out Legrand's existing offerings in
assisted living, which have been grouped together under the
"Legrand Care" brand since 2021 (Legrand | Care). By acquiring
Enovation, Legrand Care strengthens its European leadership in
technology and software solutions in the assisted living and health
market.
Netrack is an Indian specialist in server and network
rack manufacturing.
As a long-standing player in this market, Netrack is known for
its high-quality products, which are a popular choice in many
datacenter projects.
Based in Bangalore and employing over 250 people, Netrack
reports annual revenue of around €10 million. With this
acquisition, Legrand strengthens its position in datacenters, a
rapidly developing segment that represented 15% of the Group's
revenue in 2023.
Benoît Coquart, Legrand’s Chief Executive Officer, commented:
"We are very pleased to announce these investments in areas that
are at the heart of buoyant trends (connected solutions,
datacenters) and as such, of our growth acceleration strategy. We
are also excited to work with the teams of these industry-leading
companies."
Key financial dates:
- 2024 first-quarter results: May 3, 2024 “Quiet period2”
starts April 3, 2024
- General Meeting of Shareholders: May 29, 2024
- Ex-dividend date: May 31, 2024
- Dividend payment: June 4, 2024
- 2024 first-half results: July 31, 2024 “Quiet period2”
starts July 1, 2024
- Capital Markets Day: September 24, 2024
About Legrand
Legrand is the global specialist in electrical and digital
building infrastructures. Its comprehensive offering of solutions
for commercial, industrial and residential markets makes it a
benchmark for customers worldwide. The Group harnesses
technological and societal trends with lasting impacts on buildings
with the purpose of improving life by transforming the spaces where
people live, work and meet with electrical, digital infrastructures
and connected solutions that are simple, innovative and
sustainable. Drawing on an approach that involves all teams and
stakeholders, Legrand is pursuing its strategy of profitable and
responsible growth driven by acquisitions and innovation, with a
steady flow of new offerings—including products with enhanced value
in use (faster expanding segments: datacenters, connected offerings
and energy efficiency programs). Legrand reported sales of €8.3
billion in 2022. The company is listed on Euronext Paris and is
notably a component stock of the CAC 40, CAC 40 ESG and CAC SBT 1.5
indexes. (code ISIN FR0010307819).
https://www.legrandgroup.com
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1 Subject to standard conditions precedent. 2 Period of time
when all communication is suspended in the run-up to publication of
results.
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version on businesswire.com: https://www.businesswire.com/news/home/20240422103142/en/
Investor relations Legrand Ronan Marc Tel: +33 (0)1 49 72
53 53 ronan.marc@legrand.com Press relations TBWA Corporate
Tiphaine Raffray Mob: +33 (0)6 58 27 78 98
tiphaine.raffray@tbwa-corporate.com
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