Rexel announces the acquisition of Talley
07 Mai 2024 - 8:00AM
Rexel announces the acquisition of Talley
Rexel announces the acquisition of
Talley, reinforcing its U.S. data communications
offer
Rexel has reached an agreement to acquire
Talley, a leading distributor of wireless infrastructure products
and solutions in the United States, strongly reinforcing its
exposure to the fast-growing data usage trends.
Talley provides network infrastructure products
to mobile network operators, network installers, infrastructure
operators and end-users across the US. Established in 1983 by the
Talley family and headquartered in Los Angeles, Talley will
generate turnover of c. $360m in 2024 and operates with the support
of 11 warehouses and 300+ employees.
This acquisition complements Rexel’s $700m sales
in the datacom and datacenter spaces in North America. It enhances
the group’s offer with both connected and electrified solutions to
further benefit from the electrification trend of wireless
connectivity and digitalization. It also provides access to
high-growth verticals including in-building wireless, private LTE
or enterprise networks as well as ongoing network coverage
densification and future upgrades.
Talley’s combination with Rexel opens multiple
opportunities for further development as well as efficiency
improvement, to the benefit of Talley and Rexel’s customers. The
transaction is projected to be accretive to Rexel’s earnings per
share in year 1, value-creating in year 2 and to represent a fully
synergized multiple of ~7x EBITDA.
The completion of this transaction remains
subject to US antitrust approval and customary closing conditions
and is expected to close in June.
Guillaume Texier, CEO of Rexel, said: “The
acquisition of Talley is an important step to continue to
strengthen our presence in the US. Electrical solutions and datacom
solutions are increasingly interconnected, and Talley’s acquisition
will represent a step change, giving us access to expertise,
solutions, suppliers and customers in the datacom space. This new
transaction is fully in line with our strategy of reinforcing our
exposure to faster growing trends and verticals and increasing our
weight in North American markets. Talley has an excellent
reputation and market recognition for its value-added services, and
shares Rexel’s customer-centric values. We are very excited about
the opportunities created by the association of the two companies
and look forward to working with Talley’s talented teams and
management to continue driving profitable growth.”
Mark Talley, CEO of Talley, commented, “We are
excited to join Rexel, a leader in the electrical distribution
industry. Maintaining the Talley brand and culture, alongside and
as part of the Rexel brand and culture, will create strategic value
for our customers, suppliers, communities, and stakeholders. Our
combined strengths, offering best-in-class products, services, and
solutions, will help our customers and suppliers grow and be
successful.”
ABOUT REXEL GROUP
Rexel, worldwide expert in the multichannel
professional distribution of products and services for the energy
world, addresses three main markets: residential, commercial, and
industrial. The Group supports its residential, commercial, and
industrial customers by providing a tailored and scalable range of
products and services in energy management for construction,
renovation, production, and maintenance. Rexel operates through a
network of more than 1,950 branches in 19 countries, with more than
26,500 employees. The Group’s sales were €19.2 billion in 2023.
Rexel is listed on the Eurolist market of Euronext Paris
(compartment A, ticker RXL, ISIN code FR0010451203). It is included
in the following indices: MSCI World, CAC Next 20, SBF 120, CAC
Large 60, CAC 40 ESG, CAC SBT 1.5 NR, CAC AllTrade, CAC AllShares,
FTSE EuroMid, and STOXX600. Rexel is also part of the following SRI
indices: FTSE4Good, Dow Jones Sustainability Index Europe, Euronext
Vigeo Europe 120 and Eurozone 120, STOXX® Global ESG Environmental
Leaders, and S&P Global Sustainability Yearbook 2022, in
recognition of its performance in terms of Corporate Social
Responsibility (CSR). For more information, visit
www.rexel.com/en.
CONTACTS
FINANCIAL ANALYSTS /
INVESTORS
Ludovic DEBAILLEUX |
+33 1 42 85 76 12 |
ludovic.debailleux@rexel.com |
PRESS
Brunswick: Thomas KAMM |
+33 1 53 96 83 92 |
tkamm@brunswickgroup.com |
- 2024 05 07 - Rexel enters into an agreement to buy Talley
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