Company
Nexans signs agreement to acquire La Triveneta Cavi.
Feb 13, 2024
On 9 February, Nexans announced that it had signed an agreement to acquire La Triveneta Cavi, a company with recognised excellence in the European medium and low voltage segment.
La Triveneta Cavi is located in Italy and mainly produces low voltage cables for buildings, infrastructure, fire resistant cable systems and renewable energy in 30 countries. The company was founded in 1965 by Ermenegildo Scalabrin, Gastone Massignan and Bruno Gobetti. It employs approximately 700 people and has generated revenues of more than €800 million in the last twelve months. La Triveneta Cavi has a first-class industrial operation in Italy, which includes three cable production units with efficient logistics in Brendola and Tolentino, as well as its own copper traction plant in Montecchio, Maggiore.
Nexans sees a number of strategic benefits from the acquisition:
- Nexans implements its strategy: The proposed acquisition is a significant step forward in Nexans' strategy to become a pure electrification player. It adds a well-known player with a long tradition of first-class innovation and industrial platforms, as well as a highly experienced management team with a strong track record.
- Benefits for customers: The acquisition strengthens Nexans' portfolio of installation cables to address the major market shift towards fire safety: Global demand for fire safety cables is expected to grow at approximately +13% CAGR over the period 2021-2030.
- A valuable transaction for Nexans' shareholders: The acquisition of La Triveneta Cavi will generate synergies and thus value for shareholders. These synergies are expected to be achieved through the integration of La Triveneta Cavi's business into Nexans, together with the introduction of Nexans' proprietary programmes, SHIFT Performance and SHIFT Prime, to improve customer focus and value-added solutions.
“ The acquisition of La Triveneta Cavi will be a major milestone in our journey to become a global Electrification Pure Player. Italy is the third largest economy in the Eurozone, the second largest manufacturing economy in Europe, with high skilled talents, and renowned excellences in Research and Development and industrial processes.
We are delighted to welcome La Triveneta Cavi’s 700 people within the larger Nexans family. La Triveneta Cavi will bring to Nexans more than 800 million euros in sales, 4 production units with technological platform capabilities to enhance our product portfolio, and will enable the acceleration of new sustainable offer launches in high-demand markets. The combination of Nexans and La Triveneta Cavi will be a real catalysts for a "Made in Italy” cable production in the Veneto region of Italy, that will bring significant investment and jobs for La Triveneta Cavi. ”
Christopher Guérin
Nexans CEOMariano Peripolli, CEO of La Triveneta Cavi, believes that the company has found the right partner in Nexans:
“ Nexans will bring significant resources to further expand La Triveneta Cavi’s operations, most notably to accelerate the deployment of the fire safety technology. By combining our entrepreneurial spirit with Nexans’ pioneering and agile culture, we are poised to drive innovation and create transformative impact. Indeed, we are proud to have found the right partner capable of enhancing the work done so far by our people and continuing the development of our company. ”
Mariano Peripolli
Managing Director of La Triveneta CaviOur websites
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