19/10/2007 - 15:55

France's Rexel buys EIW Holdings

19/10/2007 - 15:55

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France-based global electrical distributor Rexel has snapped up Perth company EIW Holdings for an undisclosed sum.

France's Rexel buys EIW Holdings

France-based global electrical distributor Rexel has snapped up Perth-based company EIW Holdings for an undisclosed sum.

EIW is an electrical distributor with 16 branches across Australia, nine of them based in WA while the remaining seven offices are located in New South Wales.

The company generated revenue of $156 million in 2006-07 and employs over 180 staff.

EIW was owned by Sydney-based private equity group RMB Capital Partners and a number of EIW senior employees.

Rexel is a worldwide distributor of electrical supplies and is listed on the Eurolist market of Euronext Paris.

It is expected that transaction will settle on October 31.

KPMG's Perth corporate finance team advised EIW on the deal. It is KPMG's second major M&A transaction this year following its involvement in the sale of MacCormick Civil Engineering for $35 million to Sydney-based Walter Diversified Services Ltd in August.

The MacCormick family chose to sell its 33-year-old civil engineering division, a notable tunnelling specialist, to Walter Diversified Services to concentrate on property development.

Rexel's EIW acquisition is its seventh this year and the second in Australia.

Rexel has 1900 sales outlets across the globe and employs more than 22,000 people.

 


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