Nexans enters into exclusive negotiations with Syntagma Capital for the sale of its Telecom Systems business
Nexans enters into exclusive negotiations with Syntagma Capital for the sale of its Telecom Systems business
_PRESS RELEASE_
- Nexans enters into exclusive negotiations for the sale of its Telecom Systems activities to Syntagma Capital
- This proposed transaction marks a new step in the implementation of Nexans’ strategy to refocus as a Pure Electrification Player
Paris, February 6, 2023 – Nexans has entered into exclusive negotiations with Syntagma Capital, a Belgium-based private equity fund, for the sale of its Telecom Systems activity (“The Business”). This proposed transaction marks Nexans’ exit from the telecom and data activity in line with its strategy to simplify its activities and amplify its impact in Electrification markets.
The Business operates primarily in the design, production and commercialization of advanced solutions for telecom, LAN networks as well as datacentres and constitutes the main remaining part of the Telecom & Data division after the sale of Berk-Tek in 2020. It employs around 680 people and has a turnover of around 200 million euros in aggregate.
Christopher Guérin, Chief Executive Officer of Nexans declared: “We are pleased that our Telecom Systems colleagues will join a strategic new home with Syntagma Capital to further invest and grow the business. This powerful combination will deliver meaningful opportunities to employees and customers. I would like to thank the teams for the excellent work they have done in the past, and I am confident in their future development.”
“We are pleased to partner with management to continue to grow the business. Providing the backbone for data management is an exciting prospect. This transaction represents our most recent carve out and reflects Syntagma’s strategy to acquire businesses that will benefit from a new owner to drive the next area of growth” said Sebastien Kiekert Le Moult, Managing Partner of Syntagma.
The proposed transaction remains subject to the fulfilment of customary conditions for this type of transaction, including the information and consultation of works councils and other regulatory approvals. The closing of the transaction is expected to be completed by the end of the first half of 2023.
Following the closing of the transaction, the Special Telecom division, active in the production and installation of subsea telecommunication systems, accessories and services based in Rognan, Norway, will become part of Nexans Generation & Transmission business group enhancing the global capabilities and commercial offering.
About Syntagma Capital
Syntagma invests in companies that can benefit from hands-on operational expertise to accelerate growth and improve performance for all stakeholders. They are true operators with experience working in and managing companies on a global scale, leveraging our in-house resources to develop successful strategies, and execute them to realize their full potential and create sustainable long-term value. Syntagma invests and operates companies in a broad range of industries with a specific focus on the material, chemical, industrial, and business services markets and including manufacturing, distribution, transportation and logistics, equipment rental, metals services, and other industries. Syntagma is committed to high ESG standards across all its investments and is based in Brussels, Belgium.
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Contact:
| Marie Ciparisse Tel.: +32 (0)2 315 70 12 |
About Nexans
For more than a century, Nexans has played a crucial role in electrifying the planet and is committed to electrifying the future. With almost 25,000 staff in 42 countries, the Group is driving the change towards the new world of electrification: a safer, more sustainable, renewable, carbon-free world, accessible to all. In 2021, Nexans generated €6.1 billion in standard sales. The Group is a leader in the design and manufacture of cable systems and services in five main areas of activity: Energy Production & Transmission, Distribution, Uses, Industry & Solutions and Telecom & Data. Nexans was the first player in its industry to create a Corporate Foundation to support actions that promote access to energy for disadvantaged populations worldwide. The Group is committed to helping achieve carbon neutrality by 2030.
Nexans. Electrify the future.
Nexans is listed on the Euronext Paris stock market, compartment A.
For more information, please visit
Contacts:
| Investor Relations Elodie Robbe-Mouillot Tel.: +33 (0)1 78 15 03 87 | Communications Emmanuel Guinot Maëllys Leostic Tel.: +33 (0)7 87 04 96 58 |
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