Nexans Completes the Sale of Lynxeo to Latour Capital
Nexans has announced a significant milestone by completing the sale of Lynxeo, its industrial cable division, to Latour Capital. The transaction is valued at €525 million, showcasing Nexans' strategic shift towards its core electrification business.
Strategic Importance of the Sale
This sale is part of a broader strategy for Nexans to establish itself as a leader in the electrification sector. By divesting Lynxeo, Nexans aims to streamline its operations, allowing for better resource allocation and a sharper focus on growth in its key areas. Christopher Guérin, the CEO of Nexans, described this closing as a pivotal moment in their electrification journey.
The Role of Latour Capital
Latour Capital, a private equity fund based in France, brings significant expertise to the table. Their strategic guidance is anticipated to greatly benefit Lynxeo, supporting its future growth and fostering innovation. With a history of transforming companies with strong growth potential, Latour Capital is well-equipped to propel Lynxeo towards new opportunities.
About Latour Capital
Latour Capital operates with an entrepreneurial spirit, managing €4 billion in assets. The firm's management team comprises seasoned professionals who actively engage with their portfolio companies to maximize value. Their strategic vision is driven by partners who have successfully built businesses in various sectors.
Nexans' Electrification Leadership
For over a century, Nexans has been at the forefront of electrifying various sectors globally. With a workforce of around 28,500 across 41 countries, the company is committed to developing sustainable and accessible electrification solutions. Nexans has established itself as a leader in the design and manufacturing of cable systems across four primary business areas: PWR-Transmission, PWR-Grid, PWR-Connect, and Industry & Solutions.
Commitment to Sustainability
Nexans has also committed to significant sustainability targets, including achieving net-zero emissions by 2050 and contributing to global energy access initiatives. The company was recognized for its efforts with a spot on the CDP Climate Change A List, reflecting its dedication to responsible environmental practices.
Future Prospects for Nexans
As Nexans transitions more fully into electrification, the company plans to innovate and expand its offerings. The sale of Lynxeo is expected to free up capital and focus resources on projects that align with their sustainability and electrification goals. With this new direction, Nexans anticipates a bright future in driving energy solutions that are both sustainable and efficient.
Nexans is publicly traded on Euronext Paris. For more inquiries or information, please contact:
Frequently Asked Questions
What does the sale of Lynxeo mean for Nexans?
The sale marks a strategic shift for Nexans to focus on its electrification business, enhancing its growth potential.
How will Latour Capital influence Lynxeo's future?
Latour Capital's expertise in management and investment is expected to accelerate Lynxeo's growth and innovation.
What are Nexans’ main business areas?
Nexans operates primarily in PWR-Transmission, PWR-Grid, PWR-Connect, and Industry & Solutions.
How committed is Nexans to sustainability?
Nexans is committed to achieving net-zero emissions by 2050 and has initiatives to support global energy access.
Where can I find more information about Nexans?
For further details, visit Nexans’ official website or contact their investor relations.
