Leviton to Acquire Berk-Tek From Nexans for $202M
PARIS — Nexans has executed an agreement to sell Berk-Tek , a leading U.S.-based manufacturer of local area network cables, to Leviton for $202 million.
Berk-Tek reported sales of $163 million in 2019. The transaction represents approximately a multiple of 10x over 2019 stand-alone adjusted EBITDA, according to an announcement.
“Our Berk-Tek colleagues will join a long-term partner with the best strategic fit to answer customers demand around connectivity,” states Nexans CEO Christopher Guérin. “Together with Leviton, the Berk-Tek team will focus on developing innovative local area network solutions that are critically important in managing the demand of today’s emerging technologies.”
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Leviton President Daryoush Larizadeh comments, “Berk-Tek is a highly respected North American cabling company with exceptional manufacturing and product development capabilities. By adding Berk-Tek to the Leviton family, we will be able to provide truly end-to-end solutions to our customers.”
The transaction is a natural step in reinforcing the Berk-Tek and Leviton marketing alliance signed in 2013, according to the announcement. The combined brands will enable Leviton Network Solutions to offer fully integrated solutions.
Berk-Tek is a leading manufacturer of LAN copper and fiber cables . Berk-Tek’s 350 employees as well as its facilities located in Pennsylvania and North Carolina are expected to move under Leviton ownership before the end of Q3. The deal is subject to customary closing conditions.
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