Rexel strengthens its presence in Asia and further develops in oil & gas segment with the acquisition of Lenn International in Singapore
Following the two bolt-on acquisitions unveiled this morning in its Investor Day press release, Quality Trading in Thailand and Esabora in France, Rexel, a global leader in the professional distribution of products and services for the energy world, announces a third bolt-on acquisition: Lenn International.
Based in Singapore, Lenn International is a wire and cable distributor focused on the offshore Oil & Gas market with customers across South-East Asia. Lenn International generated sales of c.20 million euros in the last fiscal year.
This acquisition enhances Rexel’s offer in the Oil and Gas vertical segment, one of its strategic high-growth initiatives, and strengthens its presence in Asia, in line with its external growth strategy, which aims notably at expanding the Group’s presence in developing markets.