15
Dec

Takeovers and participations

Eaton buys Chinese manufacturer

Eaton will acquire 50% of the Chinese HuanYu High Tech. HuanYu High Tech (sales in 2019  106 m USD = 87 m EUR) is a subsidiary of the HuanYu Group, one of the leading manufacturers of low-voltage circuit breakers in China, with contacts throughout Asia and the entire Pacific region.

This partnership gives Eaton (sales in 2019  21.4 bn USD = 17.6 bn EUR) access to the broader Southeast-Asian market and allows it to expand its business in Asia even further.

The transaction is expected to close in the 2nd quarter of 2021, by then all official closing conditions have been implemented.

The HuanYu Group is a leading Chinese manufacturer of electrical appliances. The company was founded in 1989 and has its headquarters and manufacturing facilities in Wenzhou. The main sectors served are renewable energies, communication, chemistry, medical, transport, i.a.

 

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DKC takes over Sati

The Russian electrical appliances and cable tray manufacturer DKC will be investing in the Italian metal cable tray manufacturer Sati Italia from Rivoli (TO) from 1st January 2021.

The entry via Sati into the Italian market and possibly other European markets (?) is part of the expansion strategy of the DKC group, which is the leader in Russia with cable carrying systems for electrical wholesalers.

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Ahlsell takes over the Vent Group Nordic AB

Ahlsell has signed an agreement to acquire Vent Group Nordic AB. The company generates annual sales of around SEK 135 million (EUR 13.2 million), which means that Ahlsell is expanding its range with products from leading suppliers in the ventilation industry.

The Vent Group's activities are carried out from branches in Stockholm, Gothenburg and Malmö and significantly strengthen Ahlsell's ventilation range on the market.

The acquisition is expected to be completed in January 2021.

Ahlsell recently had sales of approx. 32 bn SEK (3.1 bn EUR) and employs more than 5,700 people in over 240 branches.