Ad
Ad
Ad
Ad
© vladek dreamstime.com Electronics Production | July 24, 2020

Nexans to sell Berk-Tek to Leviton

Nexans says it is executing an agreement to sell Berk-Tek to Leviton for USD 202 million.

Nexans announces the execution of an agreement to sell Berk-Tek, a US based manufacturer of local area network cables, to Leviton. “Our Berk-Tek colleagues will join a long-term partner with the best strategic fit to answer customers demand around connectivity. Together with Leviton, the Berk-Tek team will focus on developing innovative local area network solutions that are critically important in managing the demand of today’s emerging technologies,” says Christopher Guérin, Nexans CEO, in a press release. “Berk-Tek is a highly respected North American cabling company with exceptional manufacturing and product development capabilities. By adding Berk-Tek to the Leviton family, we will be able to provide truly end-to-end solutions to our customers,” adds Daryoush Larizadeh, Leviton President. This transaction is a natural step in reinforcing the Berk-Tek and Leviton marketing alliance signed in 2013. The combination of both brands will enable Leviton Network Solutions to offer fully integrated solutions. Berk-Tek is a manufacturer of local area network copper and fiber cables. The company’s 350 employees as well as its facilities located in Pennsylvania and North Carolina are expected to move under Leviton ownership before the end of Q3-2020. Berk-Tek reported sales for USD 163 million in 2019.
August 03 2020 7:13 pm V18.8.0-2