SYNTAGMA CAPITAL Enters iInto Exclusive Negotiations to Acquire Nexans’ LAN/data center (“LAN/DC”) and Telecom /Fibre (“FTTx”) Division.
Syntagma Capital announces that it has entered into exclusive negotiations with Nexans SA to acquire its LAN/data center (“LAN/DC”) and Telecom /Fibre (“FTTx”) division. The business designs, manufactures, and distributes smart connectivity solutions based on optical fibre and copper technologies to data centers, smart buildings, and telecom operators. The business is headquartered in Paris, France and employs ca. 680 people across its 8 sites located in France, Belgium, Germany, Greece, Morocco and China, and it generated ca. €200m in revenues across 100+ countries.
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“We expect to leverage the company’s extensive technical know-how, global presence and strong customer relationships, to accelerate its growth, both organically and through targeted M&A investments in key product areas and geographies.”
The proposed transaction, which is subject to the fulfillment of customary closing conditions, including the information and consultation of works councils and other regulatory approvals, is expected to be completed by the end of the first half of 2023.
“We are pleased to partner with management to continue to grow the business. Providing the backbone for data management is an exciting prospect. Despite a challenging M&A market, we are continuing to find attractive opportunities to invest our capital while providing sellers with divestiture solutions for complex carve outs where speed and certainty are of the essence. This transaction represents our most recent carve out and reflects Syntagma’s strategy to acquire businesses that will benefit from a new owner to drive the next area of growth” said Syntagma Managing Partner Sebastien Kiekert Le Moult.
Christopher Guérin, Chief Executive Officer of Nexans declared: “We are pleased that our Telecom Systems colleagues will join a strategic new home with Syntagma Capital to further invest and grow the business. This powerful combination will deliver meaningful opportunities to employees and customers. I would like to thank the teams for the excellent work they have done in the past, and I am confident in their future development.”
“Syntagma’s ability to manage complex carve out was critical in differentiating us. The business provides significant opportunities to grow in the coming years” said Syntagma Partner Frank Coenen. “We expect to leverage the company’s extensive technical know-how, global presence and strong customer relationships, to accelerate its growth, both organically and through targeted M&A investments in key product areas and geographies.”
Syntagma’s team involved in the transaction included Sebastien Kiekert Le Moult (Managing Partner), Frank Coenen (Partner), Benjamin Dahan (Partner), João Pilecco (Senior Vice President), and Ludovic Ruffenach (Senior Associate).
Willkie Farr & Gallagher provided legal counsel to Syntagma, PwC provided financial, legal, tax, and social advice, Roland Berger provided commercial and strategy support, and ERM advised on ESG and EHS matters.
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