Nexans completes acquisition of La Triveneta Cavi, expanding European reach

06 Jun 2024 17:30 CEST

 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

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• 2024_06_06_pr-Nexans completes acquisition of La Triveneta Cavi, expanding European reach