Schneider acquires Lexel, becoming Europe’s second-largest manufacturer of low voltage final distribution equipment
Schneider, the world leader in electrical distribution, has signed an agreement to acquire Lexel, a Finnish-Danish manufacturer of switches, outlets and trunking and ducting equipment.
Lexel represents sales of FF 3.5 billion and has 5,000 employees in Europe. It has 24 sales offices and 26 production centers in 15 European countries and sells products under more than 15 local or regional brand names. Lexel’s operations are primarily located in Northern Europe (Norway, Sweden, Finland, Denmark, Poland and the Baltic countries), but it is also present in Germany, France
and the UK.
This acquisition fits in with Schneider’s strategic orientations and enhances the Company’s position in low voltage final distribution. Lexel provides an exceptional opportunity for Schneider to expand its lineup and its geographic coverage in Europe.
At present, Schneider’s sales in low voltage final distribution amount to FF 700 million with Eunea in Spain, Feller in Switzerland, Sarel in France and recently acquired Schyller in Italy. The addition of Lexel will boost sales to FF 4.2 billion, making Schneider Europe’s second largest manufacturer of low voltage final distribution equipment.
This move confirms Schneider’s commitment to establishing a comprehensive portfolio in electrical distribution and to strengthening its presence in the low voltage final distribution segment. This business is highly local and provides and excellent strategic fit with the Company’s final low voltage operations.
Schneider will pay around FF 6 billion for Lexel, to be financed from internal resources and lines of credit. Employee representatives and the appropriate authorities will be consulted and informed, and the necessary due diligence papers will be filed prior to finalization.