French subsea power cable maker Nexans has completed the acquisition of La Triveneta Cavi, an Italian medium and low-voltage cable company.
The acquisition is a significant leap forward in Nexans’ strategy to become an electrification pure player.
Based in Italy since 1965, La Triveneta Cavi primarily manufactures low-voltage cables for building, infrastructure, fire-retardant cable systems and renewable energy applications across 30 countries.
The company operates vertically integrated network with three cable production units featuring highly efficient logistic capabilities, in addition to an in-house copper drawing facility. La Triveneta Cavi boasts a workforce of approximately 700 employees and has generated current revenues of more than $869 million (€800 million) over the last 12 months.
“The acquisition of La Triveneta Cavi is fully in line with our vision of Nexans as a global electrification pure player. This move significantly strengthens our presence in the electrification segment, where we have successfully completed two acquisitions over the past two years and it will further enable the acceleration of new sustainable offer launches in high-demand sectors.
“Last but not least, I cannot be more delighted to welcome the talented people of La Trivineta Cavi to the Nexans family,” said Christopher Guérin, Nexans’ CEO said.