Sonepar has entered into separate agreements to acquire the Austrian and Belgian businesses of Solar A/S.
Sonepar has entered into separate agreements to acquire the Austrian and Belgian businesses of Solar A/S, respectively named GFI GmbH and Claessen ELGB NV, with closing expected to take place in the second quarter of 2018. Finalization of the Austrian transaction is subject to approval from the Austrian competition authorities.
Philippe Delpech, CEO Sonepar, said : “The acquisition of Solar businesses in Austria and Belgium is a very important step for Sonepar. The already best in class Sonepar operations in Austria and Belgium will be significantly strengthened by the addition of Solar businesses. That will help Sonepar to serve customers in both countries with better proximity and skills. I take the opportunity to welcome Solar Austria and Belgium associates into the Sonepar family.”
Sonepar is an independent family-owned company with global market leadership in B-to-B distribution of electrical products, solutions and related services. Assisting customers on many markets, the Group achieved 20.6 billion euros of revenue (as of December 31, 2016) through the skills and passion of its 43,000 associates. The density of its network, 239 entities operating in 44 countries on five continents, and the digital solutions developed make customer service and relationships a daily focus. Sonepar’s ambition is to become “La Référence” for all its stakeholders.