Rexel enters into an agreement to buy Talley

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Rexel has reached an agreement to acquire Talley, a leading distributor of wireless infrastructure products and solutions in the United States, strongly reinforcing its exposure to the fast-growing data usage trends.

Talley provides network infrastructure products to mobile network operators, network installers, infrastructure operators and end-users across the US. Established in 1983 by the Talley family and headquartered in Los Angeles, Talley will generate turnover of c. $360m in 2024 and operates with the support of 11 warehouses and 300+ employees.
This acquisition complements Rexel’s $700m sales in the datacom and datacenter spaces in North America. It enhances the group’s offer with both connected and electrified solutions to further benefit from the electrification trend of wireless connectivity and digitalization. It also provides access to high-growth verticals including in-building wireless, private LTE or enterprise networks as well as ongoing network coverage densification and future upgrades.
Talley’s combination with Rexel opens multiple opportunities for further development as well as efficiency improvement, to the benefit of Talley and Rexel’s customers. The transaction is projected to be accretive to Rexel’s earnings per share in year 1, value-creating in year 2 and to represent a fully synergized multiple of ~7x EBITDA.

 “The acquisition of Talley is an important step to continue to strengthen our presence in the US. Electrical solutions and datacom solutions are increasingly interconnected, and Talley’s acquisition will represent a step change, giving us access to expertise, solutions, suppliers and customers in the datacom space. This new transaction is fully in line with our strategy of reinforcing our exposure to faster growing trends and verticals and increasing our weight in North American markets. Talley has an excellent reputation and market recognition for its value-added services, and shares Rexel’s customer-centric values. We are very excited about the opportunities created by the association of the two companies and look forward to working with Talley’s talented teams and management to continue driving profitable growth.” Guillaume Texier, CEO of Rexel

The completion of this transaction remains subject to US antitrust approval and customary closing conditions and is expected to close in June.*

> Learn more with the Press Release

Rexel France joins the Tour de France as an official partner

This partnership will give a jolt to Rexel and the Tour de France's ambitions to speed up the electrification of the Tour and support communities in their energy transition.

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The Tour de France has been committed to becoming an ever more eco-responsible organization for over a decade to protect the landscapes where the drama of the race unfolds.

The Tour de France, an iconic sporting event in July, is also a chance to discover the regions of France along with their heritage and villages. Rexel, a leading provider of products and services for professionals, will be part of this special time for the French public for the next three years.

Rexel recently expanded its electric mobility services offer with the acquisition of Freshmile, which powered up Rexel’s ability to accelerate in the field of e-mobility and supports its goal to set up 400,000 charging stations across France by 2030.

Faced with the challenges of energy transition and decarbonization, speeding up the electrification of communities is one of the major concerns of our time. This is what Rexel’s purpose is all about: Electrifying solutions that make a sustainable future possible.

On top of the sporting dimension, discovering and admiring the regions is part of what makes the Tour the Tour. To protect these landscapes, where the drama of the Grande Boucle unfolds, the Tour de France has been committed to an eco-responsible approach.

The Tour de France takes the ARO —avoid-reduce-offset— approach in its drive to reduce its carbon footprint, taking action on issues such as sustainable mobility, resource preservation and natural heritage protection. It slashed its direct carbon emissions by nearly 40% between 2013 and 2021.

Rexel to acquire Wasco, a leading HVAC distributor at the heart of the energy transition in the Netherlands

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Further building its European presence to seize fast-growing electrification opportunities, Rexel announces the acquisition* of Wasco, one of the leading distributors of HVAC products and services in the Netherlands. With this acquisition, Rexel will double in size in the Netherlands, making it the Group’s fourth-biggest country.

Wasco operates 35 branches and 2 distribution centers in the Netherlands and generated 60%** of its sales through digital channels. Over more than 50 years, Wasco has built a strong presence on the Dutch HVAC market, which is in the forefront of Europe’s energy transition.

The Wasco acquisition will allow Rexel to benefit from energy-transition related opportunities. Those markets (HVAC in the case of Wasco but also photovoltaic solutions, industrial automation or EV charging solutions), whose growth is substantially above Rexel’s in other markets, should also bring resiliency as they are driven by corporate agendas to reduce their emissions, as well as government incentive plan. Rexel already has developed a successful HVAC business, concentrated in countries where heating is traditionally electric, such as France.

“The Netherlands is one of the most exciting European markets from an electrification perspective, benefitting from a fast-paced transition from gas, driven by incentives and regulations, notably the ban on gas boilers both in new build and renovation. Wasco is ideally positioned to be an active player in this transition; it is also best-in-class in terms of digitalization. We are excited to start working with the Wasco teams to unleash the great opportunities that the association of both companies in the Netherlands will create.”
Guillaume Texier, CEO of Rexel

* The acquisition remains subject to customary conditions including completion of the consultation process of Wasco’s works council and approval by the competition authority, i.e. the European Commission. It is expected to close in the second half of 2023.

** circa €540m over the last twelve months through end-April 2023

> Learn more with the Press Release

Rexel tops its sector in the Leaders in Innovation ranking, Les Echos – Statista

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Les Echos has published its ranking of the most innovative companies in France.

Innovation is a key driver of growth and success for companies. The Leaders in Innovation ranking, established by Les Echos in partnership with Statista, highlights companies that stand out for their ability to refresh their fields of activity. This list is based on a panel of 7,000 companies with more than 50 employees. Three areas were evaluated: innovation culture, innovation in product or service offerings, as well as innovation in processes and CSR.

Among the most rewarded companies, Rexel ranks first in its sector of activity (wholesale and retail trade). This ranking recognizes the Group’s efforts in terms of innovation, whether in energy efficiency and energy management solutions or in services that foster the development of new electrical uses supported by digitalization.

In 2022, Rexel developed the Carbon Tracker, a solution that provides customers with a detailed analysis of the products’ carbon footprint throughout their life cycle. The Carbon Tracker has received several ESG awards for its innovative nature.

In addition, through its Foundation for a better energy future and its social innovation platform, Rexel supports the development of socially responsible business models in the field of energy efficiency.

Rexel’s commitment to the energy transition, driven by electrification, is thus highlighted, demonstrating the Group’s ongoing efforts to anticipate growing market demand while addressing environmental and social challenges.

Rexel’s purpose: Electrifying solutions that make a sustainable future possible

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Rexel unveils its purpose, fully aligned with its strategic roadmap, at the occasion of its 2022 full-year results announcement.

Each single word conveys a meaning specific to Rexel:

• « Electrifying »: A reference to electricity and electrification, but also to the passion of our teams.
• « Solutions » refers to both products and services.
• « Sustainable future » relates to the finality of all our actions. Our ESG focus as well as new electricity usages, innovation, digital advanced services are strong internal drivers.
• « Make possible » is about our unique role in the value chain. We partner with suppliers to propose the best products and push new services to the market. We support energy professionals and help them spread the solutions which make the energy transition a reality.

Rexel’s purpose is the result of close collaboration of around 7,000 employees where the Group operates, and reflects the Group’s contribution to the world: provide the solutions and services that will accelerate electrification in personal and professional spaces, infrastructures, buildings and mobility means – including in the domains of HVAC, photovoltaics, electric mobility and industrial automation.

Find out more about Rexel’s purpose statement, manifesto and video:

Watch the video

Rexel’s purpose is conveyed through the Group’s strategy and commitments. Learn more:

. PowerUP 2025, Rexel’s strategic 2022 – 2025 roadmap

. Rexel’s sustainable development strategy