Rexel distributors buy Mayor for $ 456 million

PARIS (AFP – Dow Jones) – Rexol, an electrical equipment distributor, announced on Wednesday that the mayor has reached an agreement to buy power products and US distributors based on a company value of $ 456 million (39 393 million).

“The transaction should be commensurate with Rexle’s earnings per share from the first year and build value in the 2nd year, in line with the Group’s commitment, especially thanks to the expected consolidation of about 1.5% on sales purchased from the 2nd year,” Rexal said in a statement.

“With this transaction, Rexel’s credit rating will be in a pro form below 2.0x EBITDA,” the panel said.

“The transaction, subject to the approval of U.S. competing authorities, must be completed by the end of the year,” Rexel said.

Founded in 1930, the mayor “operates 68 companies in 12 states with a strong presence in Alabama, Florida, Georgia and Pennsylvania,” the French panel added. According to Rexel, the company employed 1,200 people and generated $ 1.2 billion in sales in the 12 months to the end of August.

-Alice Tore, AJF-Dow Jones; +33 (0) 1 41 27 47 90; [email protected] Version: VLV

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October 06, 2021 01:55 ET (05:55 GMT)