French cable systems and services provider Nexans SA has finalized the acquisition of Italian medium- and low-voltage cable specialist La Triveneta Cavi, sealing a deal valued at approximately EUR 520 million (USD 564.9m).
Nexans' CEO Christopher Guerin emphasized the strategic significance of the acquisition, stating, “The acquisition 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.”
The transaction, initially agreed upon in February, received regulatory approval from the European Commission (EC) earlier this month, paving the way for its completion.
Financial details of the deal, previously undisclosed, reveal that the acquisition represents a multiple of 5.6 times La Triveneta Cavi's 2023 EBITDA pre-synergies and 4.6 times post run-rate synergies.
Established in 1965, La Triveneta Cavi specializes in industrial cable solutions for building, infrastructure, fire-retardant cable systems, and renewable applications. The company operates three cable production units along with an in-house copper drawing facility and has a presence in 30 countries. With approximately 700 employees, La Triveneta Cavi reported revenue exceeding EUR 800 million over the past 12 months.
