Nexans Completes Sale of AmerCable to Mattr
Deal News | Jan 02, 2025 | Globenewswire
Nexans has completed the sale of its subsidiary, AmerCable, to Mattr for an enterprise value of $280 million. The divestiture is part of Nexans' strategy to refocus on its core electrification business. The transaction is seen as a milestone in Nexans' decade-long effort to simplify its portfolio and enhance business performance through the SHIFT program. Nexans, which reported revenues of 6.5 billion euros in standard sales for the year 2023, aims to strengthen its position in the electrification market. Mattr, the acquirer, is a global materials technology company focusing on critical infrastructure markets such as energy and electrification, and the acquisition aligns with its growth strategy.
Sectors
- Electrical Equipment and Components
- Materials Technology
Geography
- France – Nexans is headquartered in Paris, indicating the country of origin for the vendor in the transaction.
- United States – AmerCable, the target company, is based in the United States, indicating its geographic relevance.
Industry
- Electrical Equipment and Components – Relates to the manufacture and sale of electrical cables and systems, encompassing both companies involved in the transaction.
- Materials Technology – Pertains to Mattr's focus on materials technology, serving infrastructure markets including energy and electrification.
Financials
- 280000000 – The enterprise value at which AmerCable was sold to Mattr.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nexans | Selling company | Company | A global leader in cable systems and services, focusing on electrification. |
| Mattr | Bidding company | Company | A growth-oriented materials technology company serving infrastructure markets. |
| AmerCable | Target company | Company | A leading manufacturer of electrical power, control, and instrumentation cables. |
| Christopher Gurin | CEO of Nexans | Person | Provided a statement on the strategic rationale of the sale. |