This acquisition will strengthen Nexans’ position in the Nordics notably in electricity distribution and usage.

November 10, 2022

Nexans SA has entered into a share purchase agreement with Reka Industrial Plc to acquire Reka Cables. This acquisition will strengthen the Company’s position in the Nordics notably in electricity distribution and usage. The cable manufacturer will acquire Reka Cables for an equity price of EUR 53 million, including a financial net debt of EUR 6.5 million as of the end of September 2022. Completion of the transaction is expected to take place in the first half of 2023. The acquisition is expected to be funded with a mix of available cash and debt.

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Founded in 1961, Reka Cables is active in the manufacturing of low and medium voltages cables for usage and distribution applications. The company is one of the leaders of the Finnish market operating in four countries and benefits from a premium reputation in the Nordics.

Mr. Christopher Guérin, Nexans CEO, said, “With a deep commitment to energy transition and carbon neutrality, Reka Cables is fully aligned with the Group’s strategic ambition to become a Pure Electrification Player committed to contributing to carbon neutrality by 2030. This premium Finnish operation will further contribute to Nexans’ ability to serve our Nordic customers with high-quality and safe cables in the region.”

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Mr. Jukka Poutanen, CEO, Reka Cables, emphasised, “The Reka Cables’ team has consistently delivered high-quality cables. As a global player in electrification and an active promoter of the energy transition, Nexans is a great fit for Reka Cables.”