Nexans Expands Its Electrification Presence in the Nordics
Nexans SA has signed a share purchase agreement with Reka Industrial Plc to acquire Reka Cables for €53 million. This strategic acquisition enhances Nexans’ position in the Nordic region, particularly in electricity distribution and electrification projects.
Founded in 1961, Reka Cables employs around 270 people and specializes in low- and medium-voltage cable manufacturing. The acquisition reflects Nexans’ commitment to expanding in key markets and accelerating the transition toward carbon-neutral energy solutions.
Strengthening Nexans’ Position in Northern Europe
Reka Cables operates across four countries and reported expected 2022 revenues exceeding €160 million. Once regulatory approvals are completed, Nexans expects to finalize the deal in the first half of 2023.
This acquisition adds production expertise and local capabilities to Nexans’ Nordic operations, improving supply chain resilience and regional coverage in Europe’s growing electrification market.
Commitment to Energy Transition and Carbon Neutrality
Reka Cables achieved a major sustainability milestone in November 2021, becoming one of the first cable manufacturers to reach carbon neutrality under Scope 1 and Scope 2 emissions. This commitment aligns directly with Nexans’ corporate strategy to support the global energy transition and reduce environmental impact.
“Nexans and Reka Cables share the same vision for a sustainable future,” said Christopher Guérin, CEO of Nexans. “Reka’s dedication to carbon neutrality complements our goal of becoming a pure electrification player focused on achieving carbon neutrality by 2030.”
Jukka Poutanen, CEO of Reka Cables, added, “Joining Nexans represents an excellent opportunity to accelerate our innovation efforts. As global leaders in electrification and clean energy, we can create real value for customers and communities.”
Driving Growth Through Electrification
By acquiring Reka Cables, Nexans continues its transformation into a global electrification leader. This move strengthens Nexans’ ability to deliver high-performance cable systems that power renewable energy, sustainable infrastructure, and modern industrial solutions across Europe and beyond.
