Rexel reinforces its multi-energy business with the acquisition of Sofinther
Rexel, a global leader in the professional distribution of products and services for the energy world, announces the acquisition of Sofinther, a distribution company specializing in thermal, heating and control solutions.
This acquisition reinforces Rexel’s multi-energy expertise in France, which the Group has been developing since 2012 to complement its electrical solutions offer. Rexel entered this segment in response to the growing convergence between electrical and thermal markets, which contributes to improving the energy performance of buildings.
In addition to strengthening its multi-energy offer, the acquisition of Sofinther will help Rexel grow its presence in thermal control and regulation, as well as in the connected devices markets. It will also contribute to building closer relationships with customers in the collective housing, commercial buildings and industrial sectors.
In 2014, Sofinther posted sales of €106 m. This acquisition will allow Rexel to more than double its multi-energy sales in France, which have recorded double-digit growth since the launch of this business in 2012.
The acquisition remains subject to the approval of relevant authorities and should be completed by the beginning of 2016.
Based in Nantes in North-West France, Sofinther has 206 employees and 24 branches spread across the country. The company addresses the collective housing, commercial buildings and industrial sectors.
Rexel in France
Rexel is a major distributor of electrical products and services in France. With some 450 branches and 10 distribution centers Rexel France contributed €2.4 bn in consolidated sales to the Group’s turnover in 2014.