Nexans Sells Berk-Tek to Leviton for $202 Million
Nexans has announced the sale of two companies planned prior to COVID-19, alongside steps taken in response to the pandemic’s global impact. The transactions include major North American and European operations.
Berk-Tek Sale to Leviton Network Solutions
In its mid-year financial report, Nexans announced it has agreed to sell Berk-Tek, a U.S.-based manufacturer of local area network cables, for $202 million to Leviton Network Solutions. Berk-Tek leads the market in manufacturing local area network copper and fiber cables.
The deal includes Berk-Tek’s 350 employees and facilities located in Pennsylvania and North Carolina. Consequently, these assets are expected to move under Leviton ownership before the end of Q3-2020, subject to customary closing conditions.
The transaction represents a natural step in reinforcing the Berk-Tek and Leviton marketing alliance signed in 2013. Moreover, the combination of both innovative, reliable, and service-oriented brands will enable Leviton Network Solutions to offer fully integrated solutions.
The transaction has an enterprise value of US$202 million. Additionally, Berk-Tek reported sales of US$163 million in 2019.
For more information about Leviton Network Solutions, visit https://www.leviton.com
Industry Leaders Comment on Local Area Network Cables Deal
Daryoush Larizadeh, Leviton President, praised the acquisition. Specifically, he stated that Berk-Tek is a highly respected North American cabling company with exceptional manufacturing and product development capabilities. Furthermore, by adding Berk-Tek to the Leviton family, the company will provide truly end-to-end solutions to customers.
Christopher Guérin, Nexans CEO, noted that Berk-Tek colleagues will join a long-term partner with the best strategic fit to answer customers’ demand around connectivity.
Nexans Metallurgie Deutschland Sale
The second sale involved Nexans Metallurgie Deutschland GmbH (NMD), which specializes in oxygen-free copper drawing, to Mutares SE & Co. KGaA. The plant has annual capacity of 60,000 metric tons.
NMD employs 250 workers at two German sites in Bramsche and Neunburg. Additionally, it serves first and second tier customers for automotive, white goods, and industrial applications.
Mutares acquires and develops medium-sized industrial companies and operations of large corporations.
For more information about Nexans, visit https://www.nexans.com
Learn more about Mutares at https://www.mutares.com
