Nexans enhances portfolio in Europe with an agreement to acquire iconic La Triveneta Cavi

_PRESS RELEASE_

• Nexans has taken a significant leap forward in its electrification strategy by signing an agreement to acquire the iconic Italian company La Triveneta Cavi, with recognized excellence in the European medium- and low-voltage cable segments, employing 700 people across 4 production units and generating above 800 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.

Paris, February 9, 2024 — Nexans, a leader in the global energy transition, today announces the signing of a landmark agreement to acquire iconic La Triveneta Cavi, with recognized excellence within the European medium- and low-voltage segments. Based in Italy, La Triveneta Cavi primarily manufactures low-voltage cables for building, infrastructure, fire-retardant cable systems and renewable applications across 30 countries.

Founded in 1965 by Ermenegildo Scalabrin, Gastone Massignan and Bruno Gobetti, the company employs a workforce of approximately 700 people and generated current revenues of more than 800 million euros over the last twelve months. La Triveneta Cavi operates a vertically integrated and best-in-class industrial footprint in Italy, including three cable production units featuring efficient logistical capabilities in Brendola and Tolentino, as well as one in-house copper drawing facility in Montecchio Maggiore.

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 into Nexans, along with the deployment of Nexans’ proven proprietary programs, SHIFT Performance and SHIFT Prime, to enhance customer centricity and value-added solutions.