_PRESS RELEASE_
Nexans has taken a significant leap forward in its electrification strategy by signing an agreement to acquire the iconic Italian companyLa Triveneta Cavi , with recognized excellence in the European medium- and low-voltage cable segments, employing 700 people across 4 production units and generating above800 million euros in sales.- The Group will leverage its integrated business model and proven integration capabilities to accelerate La Triveneta Cavi’s growth in the building wire, fire-retardant and renewable energy sectors.
Founded in 1965 by
Outstanding strategic benefits of this transaction include:
- Strategy execution: The proposed acquisition is a significant leap forward in Nexans’ strategy to become an electrification pure player, adding a widely recognized player with a long standing tradition of best-in-class innovation and industrial platforms, as well as a highly experienced management team with a strong track record.
- Customers benefits: Enhancing Nexans’ building cable portfolio to address the major market shift toward fire safety: global demand for fire safety cables is expected to grow at a c.+13% CAGR over the 2021-2030 period. Demand will continue to be supported by new safety regulations, electricity demand growth, and new build and renovation trends.
Nexans will further develop La Triveneta Cavi’s experience in fire-retardant capabilities to expand the Group’s global fire safety offer. - A high-value transaction for Nexans’ shareholders: The addition of
La Triveneta Cavi will generate synergies and thereby value for shareholders. These synergies are expected to be captured through the integration of La Triveneta Cavi’s operations intoNexans , along with the deployment of Nexans’ proven proprietary programs, SHIFT Performance and SHIFT Prime, to enhance customer centricity and value-added solutions.
The transaction represents an acquisition multiple of 5.6x La Triveneta Cavi’s 2023 EBITDA pre-synergies and 4.6x post-synergies and will be high-single-digit accretive to earnings per share (EPS) from year one. Nexans’ financing of the acquisition will have limited impact on leverage.
Christopher Guérin, Nexans’ CEO said: “The acquisition of
We are delighted to welcome La Triveneta Cavi’s 700 people within the larger
Mariano Peripolli, La Triveneta Cavi’s CEO, emphasized: “Nexans will bring significant resources to further expand La Triveneta Cavi’s operations, most notably to accelerate the deployment of the fire safety technology. By combining our entrepreneurial spirit with Nexans’ pioneering and agile culture, we are poised to drive innovation and create transformative impact. Indeed, we are proud to have found the right partner capable of enhancing the work done so far by our people and continuing the development of our company.”
Closing of the transaction is subject to regulatory approvals and satisfaction of other customary closing conditions.
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For more information, please visit www.nexans.com
Contacts:
Communication Tel. : +33 (0)6 44 12 14 91 nexans_h@havas.com emmanuel.guinot@nexans.com Maëllys Leostic maellys.leostic@nexans.com | Investor relations Elodie Robbe-Mouillot Tel.: +33 (0)1 78 15 03 87 elodie.robbe-mouillot@nexans.com |
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Nexans enhances portfolio inEurope with an agreement to acquire iconicLa Triveneta Cavi
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