Syntagma Capital recently announced 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 several telecom operators.
What does the transaction mean for Nexans SA?
Nexans headquartered in Paris and employs ca. 680 people across 8 sites located in France, Belgium, Germany, Greece, Morocco and China, and it generated ca. €200m in revenues across 100+ countries. 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.
Christopher Guérin, Chief Executive Officer of Nexans SA declared: “We are pleased that our Telecom Systems colleagues will join a strategic new home with Syntagma Capital to further invest in and grow the business. This powerful combination will deliver meaningful opportunities to both 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 developments.”
What does the transaction mean for Syntagma?
“We are pleased to partner with the Nexans SA management to continue to grow their business. Providing the backbone for data management is an exciting prospect for us. 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.” said Syntagma Managing Partner Sebastien Kiekert Le Moult.
“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.”
“Syntagma’s ability to manage complex carve out was critical in differentiating us. The business provides very significant opportunities to grow in the coming years. We expect to leverage the company’s extensive technical know-how, vast global presence and strong customer relationships, to accelerate its growth, both organically and through targeted M&A investments in key product areas and geographies.” said Syntagma Partner Frank Coenen.
Syntagma’s team involved in the transaction included poeple like; 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 then provided commercial and strategy support, and ERM advised on ESG and EHS matters.
