News aus der Elektroindustrie
Eaton buys Chinese manufacturer...
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.
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.
Home Depot from Atlanta / Georgia, the world’s largest home improvement retailer...
Home Depot from Atlanta / Georgia, the world’s largest home improvement retailer, is taking over HD Supply, one of the largest industrial wholesalers in North America. Home Depot pays for all outstanding common stock an amount of USD 8 bn (EUR 6.7 bn).
The acquisition is expected to close in the fourth quarter, with Home Depot's fiscal year ending January 31, 2021. The deal comes just days later after speculation, that Lowe, the U.S. second-largest home improvement retailer, might acquire HD Supply.
The European Commission has unconditionally approved the planned takeover of OSRAM by AMS....
The European Commission has unconditionally approved the planned takeover of OSRAM by AMS.
There do not seem to be any barriers for new entrants. Consulted market participants either appear to support the transaction or are not affected at all. Therefore, there are no concerns about any distortion of competition. The Commission also found that the merged company did not have sufficient market power to affect competition.
Ams AG is a multinational semiconductor manufacturer headquartered in Premstätten in Austria. The company operates in the consumer, industrial, medical technology and automotive sectors.
OSRAM, headquartered in Germany, is a photonics company that offers lighting solutions and sensors worldwide. The product portfolio includes a wide range from LEDs to light management systems as well as traditional and special lamps.
nVent Electric, is a world leader in electrical connection and protection solutions, acquired....
nVent Electric, is a world leader in electrical connection and protection solutions, acquired the enclosures manufacturer Eldon based in Jaen / Spain on 4 September 2019.
The purchase price is approx.130 m USD (119 m EUR) and the assumption of debts. Eldon manufactures mainly in Romania and in 2018 they had a turnover of approx. 90 m USD (82 m EUR). The purchase has yet to be approved by the competition authority.
The Eldon enclosure program fits well with nVent, which already has a leading position in the market with its Erico, Hoffmann, Schroff, Raychem and Tracer brands.
Osram has canceled the existing standstill agreement with AMS and signed a cooperation agreement. .....
Osram has canceled the existing standstill agreement with AMS and signed a cooperation agreement. This allows the Austrian semiconductor group to submit a voluntary public takeover bid. The offer is expected to be at 38.50 EUR in cash per share, i.e. 10% more than from the financial investors Bain Capital and the Carlyle group. However, the condition for the sale is that at least 70% of Osram shareholders sell their securities.
Olaf Berlien, CEO of OSRAM Licht AG, is pleased that his shareholders can now choose between two offers. It is important for him in addition to a secure financing, the preservation of the interests of his employees. The cooperation agreement with AMS therefore stipulates that Munich will become Co-headquarter with global central functions and the name Osram will remain.
The big challenge lies in the fact that an industrial group with almost 4 bn EUR turnover should be taken over by a much smaller company.
The digital business and the consumer business with LED lamps, however, will be sold.
The deal must still be approved by the relevant competition authorities.
In our electro-insider on July 9, we reported that Osram is going to be sold,....
In our electro-insider on July 9, we reported that Osram is going to be sold, whereupon a bidder consortium from Bain Capital and the Carlyle Group wanted to completely take over Osram and offered 35 EUR per share in cash.
Now, the Austrian semiconductor group AMS from Premstetten has submitted an offer for 38.50 EUR per share, which would be about 300 m EUR more than from the financial consortium.
However, the committee headed by the Osram CEO, Olaf Berlien, supports the offer of the two financial investors, who have founded a holding called Luz (C-BC) Bidco GmbH specifically for this takeover.
If Luz Bidco gets the contract, it is, amongst other things, the goal of taking Osram from the stock market.
A bidding consortium comprising Bain Capital and the Carlyle Group ...
A bidding consortium comprising Bain Capital and the Carlyle Group has submitted a legally binding transaction offer to the management board and the supervisory board of OSRAM Licht AG for the public takeover of all Osram shares.
Osram and the consortium have also signed an investor agreement that includes comprehensive commitments. Bain and Carlyle have assured that they will fully support the management team and work closely with the current board to drive the transformation of Osram forward. Osram will continue after the takeover under the existing name. The company headquarters remain in Munich, and the rights to all patents remain with Osram.
As part of the public takeover offer, shareholders will be offered 35 EUR per share in cash. This corresponds to a premium of around 21% compared to the last closing price of the Osram share.
Olaf Berlien, the CEO of Osram, supports the offer.
At the beginning of June 2019, Würth acquired the electrical wholesalers Electro-Stocks,
At the beginning of June 2019, Würth acquired the electrical wholesalers Electro-Stocks, headquartered in Barcelona and 56 branches. The group also includes the companies Kilovatio and the newly established company Fluid-Stocks. In total, there are now about 65 branches with a turnover of approx. 300 m EUR.
Electro-Stocks was founded in 1981 and was taken over in 2016 after some financial turbulences by the British investment company Apax Partners.
Mid-2018, Electro-Stocks has started a new business model; under the brand "Fluid-Stocks", they will concentrate exclusively on climate, plumbing and professional refrigeration.
With this new acquisition, Würth is now, after Rexel and Sonepar, the number 3 of the electrical wholesale groups in Spain.
Solar from Denmark took over the HVAC business segment of Onninen AB in Sweden;
Solar from Denmark took over the HVAC business segment of Onninen AB in Sweden; this was previously agreed with the parent company Kesko from Finland. The purchase price amounts to 45 m DKK (6 m EUR).
The acquisition now strengthens the heating, plumbing, and air conditioning activities of Solar in Sweden, and has an impact on the year-end forecast for 2019. Solar now expects sales of at least 11.6 bn DKK (1.6 bn EUR).
Sacchi, a member of the Sonepar Group, took over the electrical wholesaler Demo Elettroforniture from Casale Monferrato on 7 May 2019.
Sacchi, a member of the Sonepar Group, took over the electrical wholesaler Demo Elettroforniture from Casale Monferrato on 7 May 2019. Demo has 35 branches, employs about 300 people and has an annual turnover of 118 m EUR.
With this recent acquisition, Sonepar's sales in Italy will increase to approx. 1,250 m EUR p.a.
Demo was until now connected to the Findea marketing association, which in turn belongs to the international IDEE-Group; this membership will now be terminated.
This take-over still needs to be approved by the relevant competition authorities.