NKT has entered into an agreement to acquire Ventcroft Ltd to increase its strong position in the European power cable market by adding Ventcrofts leading fire-resistant cable technology to the portfolio. The acquisition is an important step in the NKT strategy to grow the business with a strong product portfolio including fire-resistant power cables, telecom power cables and building wires.
Safety is a top priority to both us and our customers and we see a growing focus on fire-resistant power cables in the construction industry. We are pleased to welcome Ventcroft to NKT and add their leading technology to our portfolio and expect them to benefit from our broad reach across the European market as part of our growth journey, says Will Hendrikx, Executive Vice President and Head of Applications covering building wires, low- and medium voltage power cables in NKT.
Ventcroft is also welcoming the new opportunities following the acquisition:- We are looking forward to starting a new chapter with NKT and the acquisition brings some interesting possibilities to create future growth for Ventcroft, says Frank Rotheram, owner and Chairman of Ventcroft.
The family-owned business Ventcroft is located south of Liverpool in the UK is expected to deliver revenue of approx. EUR 19m and EBITDA of approx. EUR 2m in 2021.
Image source: Courtesy of NKT
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