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Nexans completes sale of Berk-Tek to Leviton

Nexans
·2-min read

NEXANS COMPLETES SALE OF BERK-TEK TO LEVITON

Paris, October 1st, 2020 – Nexans announced today the completion of the sale Berk-Tek to Leviton for a total purchase price of $202 million. As already announced on July 17th 2020, the transaction carries a valuation of approximately 10 times over 2019 stand-alone adjusted EBITDA.

About Nexans

Nexans is a key driver for the world’s transition to a more connected and sustainable energy future. For over 120 years, the Group has brought energy to life by providing customers with advanced cable technologies for power and data transmission. Today, Nexans goes beyond cables to offer customers a complete service that leverages digital technology to maximize the performance and efficiency of their critical assets. The Group designs solutions and services along the entire value chain in three main business areas: Building & Territories (including utilities and e­mobility), High Voltage & Projects (covering offshore wind farms, subsea interconnections, land high voltage), and Industry & Solutions (including renewables, transportation, oil and gas, automation, and others).
Corporate Social Responsibility is a guiding principle of Nexans’ business activities and internal practices. In 2013 Nexans was the first cable provider to create a Foundation supporting sustainable initiatives bringing access to energy to disadvantaged communities worldwide. The Group’s commitment to developing ethical, sustainable and high-quality cables also drives its active involvement within leading industry associations, including Europacable, the NEMA, ICF and CIGRE.
Nexans employs nearly 26,000 people with an industrial footprint in 34 countries and commercial activities worldwide. In 2019, the Group generated 6.7 billion euros in sales.

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Nexans is listed on Euronext Paris, compartment A.
For more information, please visit www.nexans.com

Contacts:

Communication Financial Communication

Catherine Garipoglu Aurélia Baudey-Vignaud
Tel.: + 33 (0)1 78 15 04 78 Tel.: +33 (0)1 78 15 03 94
catherine.garipoglu@nexans.com aurelia.baudey-vignaud@nexans.com

Minaa El Baz
Tel. : +33 (0)1 78 15 04 65
minaa.el_baz@nexans.com

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