Nexans should refocus on electricity transport, disposal of lynxeo in view

Nexans will sell its industrial cable division Lynxeo for 525 million euros. The French group has entered into exclusive negotiations with the Latour Capital Investment Capital Fund and should refocus on electricity transport. © Pixabay – The French group Nexans will sell its Lynxeo industrial cable division. Save save Receive the Nexans Nexans alerts opens a new chapter in its history. The French cable group, second in the world behind the Italian Prysmian, has entered into exclusive negotiations with the Latour Capital Investment Capital Fund for the sale of its industrial cable division Lynxeo, for 525 million euros, he announced this Monday, March 17. This operation, if it is carried out, would mark the exit of Nexans of the activity of specialized industrial cables, to refocus on the transport of electricity. When the presentation of its 2024 results, a month ago, the group had indicated to continue its strategy based on electrification. Nexans, who designs, manufactures and laying cables at the bottom of the oceans, has since 2021 refocused on electricity transport at the expense of industrial or digital cables. Lynxeo, formerly known as Nexans Industry Solutions & Projects, brings together the activity of specialized cables for industrial markets (rail, maritime, robotics, etc.). Read also: How to change the electricity supplier? A major step towards the electrification accused “over 100 years”, this company has “a global industrial presence in Europe and Asia, as well as in the United States, with 2,000 employees and an annual turnover of more than 700 million euros”, said Nexans in a press release. “This agreement marks a major step in our journey towards electrification,” said Christopher Guérin, Managing Director of Nexans, quoted in the press release. The “vast experience and (the) strategic vision (from the capital of the capital) will undoubtedly be a catalyst for growth and innovation for Lynxeo”. For Jean-François Beaudoin and Sylvain Dekens, Latour Capital, a fund based in France, “Lynxeo represents a unique opportunity in the specialized industrial cable sector, ideally positioned on a rapidly growing and very fragmented market”. “We firmly believe in the high Lynxeo growth potential,” they added. Read also: Nexans: Sequisition in Italy for suspicions of agreement on the prices of Nexans cables achieved a net profit of 283 million euros in 2024, up 27% compared to the previous year. The group is notably carried by the needs to connect offshore wind fields to electrical networks, and by the massive investment plans launched in many countries of the world to renovate and increase the capacities of electricity transport networks. Receive our latest news each morning, the information to be remembered on the financial markets. (tagstotranslate) Nexans

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