Nexans has successfully completed 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 a milestone of Nexans’ ambition to become a pure electrification player focusing on the overall value chain.
Reka Cables, headquartered in Hyvinkää, Finland, has provided high-quality cables to customers in the energy, infrastructure, and building sectors for over 60 years. The company operates three manufacturing plants in Finland, complementing Nexans’ existing operations in Sweden and Norway. In 2022, Reka Cables reported current sales of 172 million euros and an EBITDA 11 million euros.
The company, combined with Nexans’ global reach and innovation capabilities, will create significant value for customers in Nordics and beyond. Nexans and Reka Cables share a culture emphasising sustainability and premium customer experience.
Christopher Guérin, Chief Executive Officer of Nexans, said: “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.”
Markku E. Rentto, Chairman of the Board of Reka Industrial, said: “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”.
Reka Cables will be integrated into Nexans’ Distribution & Usage business group as part of the acquisition. This operation also opens a great perspective for Reka Cables and Nexans teams, with even more synergies and development opportunities ahead of them.
Image source: Courtesy of Nexans
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