Yahoo Finance Legrand Announces 2 New Acquisitions in the Rapidly-growing Datacenters Segment
LIMOGES, France, June 11, 2024--(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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Key financial dates
2024 first-half results: July 31, 2024
"Quiet period1" start: July 1, 2024
2024 Capital Markets Day: September 24, 2024 – London (UK)
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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1 Period of time when all communication is suspended in the run-up to publication of results
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Contacts
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
