- Nexans announces the successful completion of its acquisition of Reka Cables, apremium company active in the manufacturing of high, medium and low voltages cables,for building applications, power distribution networks and onshore wind projects.
- With a turnover of 172 million euros in 2022, this acquisition is fully aligned with theGroup’s strategic ambition to become a pure electrification player committed tocontribute to carbon neutrality by 2030.
- Nexans and Reka Cables will bring together their ideas and expertise across the Nordicregion. The combined business will continue to be at the forefront of sustainability andinnovation, in order to deliver high quality and safe cables to Nordic customers.
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 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. 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 that emphasizes sustainability, and premium customer experience.
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.
CEO, Nexans
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.
Chairman of the Board, Reka Industrial
As part of the acquisition, Reka Cables will be integrated into Nexans’ Distribution & Usage business group. This operation also opens great perspective for both for Reka Cables and Nexans teams, with even more synergies and development opportunities ahead of them.