Nexans announces that it has agreed to acquire La Triveneta Cavi, an iconic Italian manufacturer that serves the European medium- and low-voltage segments.

A press release said that the company, founded in 1965 by Ermenegildo Scalabrin, Gastone Massignan and Bruno Gobetti, employs some 700 people and has current revenues of more than €800 million over the last 12 months. La Triveneta Cavi primarily manufactures for sectors such as building, infrastructure, fire-retardant cable systems and renewable applications across 30 countries.

La Triveneta Cavi operates a vertically integrated and best-in-class industrial footprint in Italy, including three cable production units featuring efficient logistical capabilities in Brendola and Tolentino, as well as one in-house copper drawing facility in Montecchio Maggiore.

The proposed acquisition “is a significant leap forward in Nexans’ strategy to become an electrification pure player, adding a widely recognized player with a long-standing tradition of best-in-class innovation and industrial platforms, as well as a highly experienced management team with a strong track record.”

Nexans expects to see its building cable portfolio grow to address the major market shifts as global demand for fire safety cables is expected to grow at +13% CAGR over the 2021-2030 period. Nexans will further develop La Triveneta Cavi’s experience in fire-retardant capabilities to expand the Group’s global fire safety offer.

“The acquisition of La Triveneta Cavi will be a major milestone in our journey to become a global electrification pure player,” Nexans CEO Christopher Guérin said. He noted that Italy represents the third largest economy in the Eurozone, the second largest manufacturing economy in Europe, with high skilled talents, and has renowned excellences in R&D and industrial processes. “The combination of Nexans and La Triveneta Cavi will be a real catalyst for a “Made in Italy” cable production in the Veneto region of Italy, that will bring significant investment and jobs for La Triveneta Cavi.”

“Nexans will bring significant resources to further expand La Triveneta Cavi’s operations, most notably to accelerate the deployment of the fire safety technology,” said La Triveneta Cavi CEO Mariano Peripolli. “By combining our entrepreneurial spirit with Nexans’ pioneering and agile culture, we are poised to drive innovation and create transformative impact. Indeed, we are proud to have found the right partner capable of enhancing the work done so far by our people and continuing the development of our company.”