Nexans: plans to sell Berk-Tek

(CercleFinance.com) - On Monday Nexans announced that it has signed an agreement to sell Berk-Tek, a leading US manufacturer of local area network (LAN) cables, to Leviton.


Berk-Tek is a leading manufacturer of copper and fiber optic LAN cables. Leviton is due to take charge of Berk-Tek's 350 employees and facilities in Pennsylvania and North Carolina by the end of Q3 2020.

The transaction represents an enterprise value of 202 million dollars, or approximately 10x 2019 adjusted EBITDA. Berk-Tek's revenues reached 163 million dollars in 2019.

Christopher Guérin, Nexans' CEO said, "Our Berk-Tek colleagues will join a long-term partner with the best strategic fit to answer customers demand around connectivity. 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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