Nexans completes Reka Cables acquisition to electrify NordicsApr 26, 2023
Nexans announces today the successful completion of its acquisition of Reka Cables, a premium high, medium and low voltage cables manufacturer in Finland, from Reka Industrial (listed at NASDAQ Helsinki Ltd.) following receipt of regulatory clearance.
This acquisition marks an additional milestone of Nexans’ ambition to become a pure electrification player committed to contribute to carbon neutrality by 2030, focusing on the overall value chain.
Reka Cables, headquartered in Hyvinkää, Finland, has been providing high-quality cables to customers in the energy, infrastructure, and building sectors for over 60 years. The company operates three manufacturing plants in Finland which will be complementing Nexans’ existing operations in Sweden and Norway. In 2022, Reka Cables reported current sales of 172 million euros and an EBITDA of 11 million euros.
Nexans and Reka Cables will bring together their ideas and expertise across the Nordic region. The combined business will continue to be at the forefront of sustainability and innovation, in order to deliver high quality and safe cables to Nordic customers and beyond. Nexans and Reka Cables share a culture that emphasizes sustainability, and premium customer experience.
Nexans signs agreement to acquire Reka Cables from Reka IndustrialNov 10, 2022
“ We look forward to welcoming the Reka Cables’ team within Nexans. They have a strong commitment to the energy transition and will contribute to our transformation of becoming a pure-player in electrification. Their expertise in premium and safe cables also lays the groundwork for further expansion in the region. ”
Christopher GuérinNexans CEO
“ The business transaction creates new opportunities for Reka Cables teams and will provide them with new opportunities to grow and develop in the future as part of Nexans. ”
Markku E. RenttoChairman of the Board of Reka Industrial
As part of the acquisition, Reka Cables will be integrated into Nexans' Distribution & Usage business group. This operation opens also great perspective for both for Reka Cables and Nexans teams, with even more synergies and development opportunities ahead of them.
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