Nexans to sell Berk-Tek to Leviton

Joint Press Release Nexans & Leviton
Paris, France / New York, NY, USA
July 17^th, 2020

Nexans to sell Berk-Tek to Leviton

• Nexans announces execution of an agreement to sell Berk-Tek to Leviton for US$202 million
• Combining two of the most innovative, reliable and service-oriented names in the North American structured cabling industry, Berk-Tek cable and Leviton Network Solutions will offer unparalleled integrated solutions for their customers

Paris, France, July 17^th, 2020 – Nexans announces today the execution of an agreement to sell Berk-Tek, a leading US based manufacturer of local area network cables, to Leviton.

Christopher Guérin, Nexans CEO: “Our Berk-Tek colleagues will join a long-term partner with the best strategic fit to answer customers demand around connectivity. Together with Leviton, the Berk-Tek team will focus on developing innovative local area network solutions that are critically important in managing the demand of today’s emerging technologies.”

Daryoush Larizadeh, Leviton President: “Berk-Tek is a highly respected North American cabling company with exceptional manufacturing and product development capabilities. By adding Berk-Tek to the Leviton family, we will be able to provide truly end-to-end solutions to our customers.”

This transaction is a natural step in reinforcing the Berk-Tek and Leviton marketing alliance signed in 2013. The combination of both innovative, reliable and service-oriented brands will enable Leviton Network Solutions to offer fully integrated solutions.

Berk-Tek is a leading manufacturer of local area network copper and fiber cables. Berk-Tek’s 350 employees as well as its facilities located in Pennsylvania and North Carolina are expected to move under Leviton ownership before the end of Q3-2020 subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended.

The transaction entails an enterprise value of US$202 million which represents approximately a multiple of 10x over 2019 stand-alone adjusted EBITDA. Berk-Tek reported sales for
US$163 million in 2019. 

 

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Every day, Leviton is engineering possibilities that make the future happen, meeting the needs of today’s residential, commercial, and industrial customers globally. From electrical, to lighting, to data networks, and energy management, Leviton develops thoughtful solutions that help make its customers' lives easier, safer, more efficient and more productive. Driven by its commitment to its customers, the ingenuity of its employees and the safety and quality of its products and solutions, with Leviton, the FUTURE IS ON. For more information, visit http://www.leviton.com/, www.facebook.com/leviton, www.twitter.com/leviton, or www.youtube.com/Levitonmfg.