Jan 10, 2020, 16:10 EST
Jan 10, 2020, 16:10 /Comserve / -- The transaction between the two companies is expected to wind-up by the end of first quarter of 2020
Rexel announced that the company has signed an agreement with LKCM Headwater Investments, a private investment firm based in the US, for the acquisition of Rexel’s Gexpro Services business. The transaction is expected to be completed in the first quarter of 2020, though it is subject to the satisfaction of various standard conditions.
Gexpro Services will receive a large number of opportunities for its development through this agreement. The company has been a non-core activity which has been running independently from the Electrical Distribution Business of Rexel. Rexel aims to sell Gexpro Services in order to focus the company’s resources on the core strategy, which consists of the US electrical distribution business along with digital transformation across the company.
Gexpro Services specializes in various integrated supply chain solutions that are customized and focused mainly on C-Part products such as fabrication, fasteners, electrical and mechanical. Further the business works in the field of various OEM industries including aerospace, power, technology, renewables, transportations and several others. Gexpro Services, with its approximately 400 employees, generated sales of USD 260 million in the United States over the last 12 months till the end of September 2019.
Rexel acquired Gexpro Services in August 2006 as a part of the acquisition of the GE Supply. The acquisition of Gexpro Services by LKCM Headwater Investments will benefit the company by adding investment and focus and continuing the growth of business and high customer service levels.
About Rexel Group
Rexel provides professional distribution of products and services through multiple channels, addressing the three major markets – Industrial, residential and commercial markets. Rexel operates with around 27,000 employees through 2,000 branches located in 26 countries. It provides a customized range of products and services for energy management in the fields of construction, production, maintenance and renovation.
For more information, please contact:Jackie Hurtado
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