Nexans enhances portfolio in Europe with an agreement to acquire iconic La Triveneta Cavi - Seite 2

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 La Triveneta Cavi will be a major milestone in our journey to become a global Electrification Pure Player. Italy is the third largest economy in the Eurozone, the second largest manufacturing economy in Europe, with high skilled talents, and renowned excellences in Research and Development and industrial processes.
We are delighted to welcome La Triveneta Cavi’s 700 people within the larger Nexans family. La Triveneta Cavi will bring to Nexans more than 800 million euros in sales, 4 production units with technological platform capabilities to enhance our product portfolio, and will enable the acceleration of new sustainable offer launches in high-demand markets. The combination of Nexans and La Triveneta Cavi will be a real catalysts for a "Made in Italy” cable production in the Veneto region of Italy, that will bring significant investment and jobs for La Triveneta Cavi.”

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.

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 28,000 people in 42 countries, the Group is paving the way to a new world of safe, sustainable and decarbonized electricity that is accessible to everyone. In 2022, Nexans generated 6.7 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).