(RTTNews) - Nexans (NEXS.PA), a French provider of cable systems and services, said on Thursday that it has inked an agreement to acquire Electro Cables Inc., a Canadian low-voltage cables company. The transaction is expected to be funded by cash on hand.
The acquisition is anticipated to add to the acquirer's earnings.
Julien Hueber, CEO of Nexans, said: "The acquisition of Electro Cables brings complementary expertise and a strong reputation for quality in low-voltage solutions in Canada. Their positioning perfectly aligns with Nexans' strategy and complements Nexans' offer in a dynamic market. This represents another major step for Nexans, reinforcing its ambition to become a pure player in Electrification through high added value solutions."
The transaction is expected to be closed in the first half of 2026.
For the 12-month period to July, Nexans had posted sales of EUR 125 million.
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