France-based electrical distributor Rexel announced three transactions on Jan. 30: its acquisition of Buckles-Smith Electric Company, its acquisition of Lineman’s Testing Laboratories and the divestment of Rexel’s activities in Norway. Rexel ranked No. 4 on MDM’s 2022 Top Electrical, Data & Security Distributors list.
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Rexel USA’s acquisition of Santa Clara, California-based Buckles-Smith Electric Company was signed and closed on Jan. 5. An authorized reseller of Rockwell Automation solutions, Buckles-Smith operates six locations throughout California and strengthens Rexel’s presence in the San Francisco Bay Area, according to a news release.
“Buckles-Smith has long been one of the most respected and customer-focused electrical distributors in the western United States and we feel fortunate to have this incredible team join our organization,” Rexel USA CEO Brad Paulsen said in the release.
The acquisition of Lineman’s Testing Laboratories (LTL) by Rexel Canada was signed and closed on Jan. 17. LTL is a distributor of high-voltage electrical services with locations in Toronto, Ontario, and Edmonton, Alberta.
“This acquisition represents a unique opportunity for Rexel to further expand our presence in Canada in the attractive and green hydro utility business and to increase our recurring service revenues with both current and new business partners,” Rexel Canada CEO Roger Little said in the release.
Rexel also announced the signing of the divestment of its operations in Norway to Finnish retailer Kesko on Jan. 27. Rexel’s activities in Norway, which generated sales of approximately €250 ($308.9) million in 2022, were less profitable than Rexel Group average and presented less strategic and value creation potential for the future, according to the release.
Since Jan. 1, 2021, through 10 transactions including those listed here, Rexel has acquired approximately €1.5 ($1.85) billion of sales and divested €0.5 ($0.62) billion of sales, according to the release.
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