Legrand Announces 2 New Acquisitions in the Rapidly-growing Datacenters Segment
June 11 2024 - 2:30AM
Business Wire
Regulatory News:
Legrand (Paris:LR) continues to pursue its growth strategy with
two new acquisitions in the rapidly-growing datacenters market, a
segment that represented 15% of the Group’s revenue in 2023.
Davenham is an Irish specialist in low-voltage power
distribution systems (protection, switching, metering and energy
distribution) for datacenters, including hyperscalers. Its business
also includes product commissioning and aftermarket services.
Davenham is based in Dublin, employing 350 people and reports
annual revenue of around €120 million, mostly in Europe and in the
United States.
VASS is the Australian leader in busbars, mostly for
datacenters. Based in Ingleburn, near Sydney, and employing close
to 40 people, VASS reports annual revenue of just under €10
million, mostly in Australia and the Asia-Pacific region.
Benoît Coquart, Legrand’s Chief Executive Officer, commented:
"We are very pleased to announce these acquisitions that will
significantly complement our offering in the ‘white’ space
(servers’ room) with solid positions in the ‘grey’ space (technical
room), in the very promising datacenters segment. With 10
acquisitions in that vertical over the past 5 years, Legrand
confirms its growth acceleration strategy in a domain where we are
a key player and very well positioned.
Together with the three investments announced earlier this year
(MSS, Enovation and Netrack), these acquisitions represent annual
revenue of more than €200 million. "
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About Legrand Legrand is the global specialist in
electrical and digital building infrastructures. Its comprehensive
offering of solutions for commercial, industrial and residential
markets makes it a benchmark for customers worldwide. The Group
harnesses technological and societal trends with lasting impacts on
buildings with the purpose of improving life by transforming the
spaces where people live, work and meet with electrical, digital
infrastructures and connected solutions that are simple, innovative
and sustainable. Drawing on an approach that involves all teams and
stakeholders, Legrand is pursuing its strategy of profitable and
responsible growth driven by acquisitions and innovation, with a
steady flow of new offerings—including products with enhanced value
in use (faster expanding segments: datacenters, connected offerings
and energy efficiency programs). Legrand reported sales of €8.4
billion in 2023. The company is listed on Euronext Paris and is
notably a component stock of the CAC 40, CAC 40 ESG and CAC SBT 1.5
indexes. (code ISIN FR0010307819). https://www.legrandgroup.com
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version on businesswire.com: https://www.businesswire.com/news/home/20240610351417/en/
Investor relations & financial communication Ronan
MARC (Legrand) +33 1 49 72 53 53 ronan.marc@legrand.com
Press relations Tiphaine RAFFRAY (TBWA) +33 6 58 27 78 98
tiphaine.raffray@tbwa-corporate.com
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