Home » The French big Nexans strengthens itself in Italy: it takes over La Triveneta Cavi

The French big Nexans strengthens itself in Italy: it takes over La Triveneta Cavi

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The French big Nexans strengthens itself in Italy: it takes over La Triveneta Cavi

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The French cable giant Nexans is strengthening its position in Italy with an acquisition of weight. In the last few hours, as reported by Radiocor, it has in fact reached an agreement to take over Triveneta Cavi, a company based in Vicenza, which in turn is one of the most important companies in the European market for the production of low and medium voltage cables for the industrial and domestic sectors. , energy distribution and renewable technologies. Triveneta Cavi – also courted in the past by Prysmian – has a turnover of around 800 million and an Ebitda of 90 million, which according to market estimates suggests that the value of the deal, on which Nexans had Goldman Sachs as advisor and Kearney, could even exceed half a billion euros. The French group, thanks to a monstrous offer, prevailed at the end of a sale procedure which involved industrial operators and funds: the proposal, Nexans then specified in a note, values ​​Triveneta Cavi at 5.6 times ‘Ebitda 2023. The reorganization – on which Triveneta itself was assisted by Finint, the Giovannelli e Associati studio and BDO – evidently has a key value also for the entire Region, given the crucial role played by the company at an industrial and employment: this is why it was illustrated this morning to the governor of Veneto, Luca Zaia.

Password: electrification

The watchword of the operation is electrification, one of the main tools available to Europe to achieve the ambitious Net Zero target by 2050. Reducing the use of fossil fuels and increasingly satisfying the consumption of the population and industries with electricity generated from green sources is in fact the fastest way to reduce emissions. To do this, however, we need cables that distribute the electricity itself and make it available for all uses: infrastructures that will necessarily have to be increasingly sophisticated and resilient, given the growing amount of electricity that will travel on the networks.

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The numbers of Triveneta and the Golden Power

It is from these considerations that the strategic nature of the acquisition of Triveneta Cavi emerges, already controlled by three Venetian families, which is present in 30 countries around the world and employs around 600 people, churning out over 100 thousand tonnes of product every year relating mainly to cables for energy distribution, signaling and control, telephone cables, instrumentation and control cables, and medium voltage cables and for municipal bodies and companies. It is no coincidence that, according to what appears, the operation will be subject to Golden Power.

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