Nexans Sells Berk-Tek to Leviton for $202 Million
Nexansย 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,ย Nexansย announced it has agreed to sellย Berk-Tek, a U.S.-based manufacturer ofย local area network cables, forย $202 millionย toย Leviton Network Solutions. Berk-Tek leads the market in manufacturingย local area network copper and fiber cables.
The deal includesย Berk-Tek’s 350 employeesย and facilities located inย 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 theย Berk-Tek and Leviton marketing allianceย 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 ofย US$202 million. Additionally, Berk-Tek reported sales ofย 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,ย 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 Guรฉrin,ย 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 involvedย Nexans Metallurgie Deutschland GmbH (NMD), which specializes inย oxygen-free copper drawing, toย Mutares SE & Co. KGaA. The plant has annual capacity ofย 60,000 metric tons.
NMD employsย 250 workersย at two German sites inย Bramsche and Neunburg. Additionally, it serves first and second tier customers forย 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
