Legrand strengthens its positions in home systems in the United States by acquiring NuVo Technologies
- Legrand announces the acquisition of NuVo Technologies, a specialist in multi-room audio systems in the United States
- Legrand thus reinforces its positions in home systems and in new business segments more generally
After purchasing Numeric UPS in India, Aegide in the Netherlands and Daneva(1) in Brazil, Legrand (Paris:LR) is actively pursuing its strategy of targeted, self-financed acquisitions and today announced the purchase of NuVo Technologies, a US specialist in multi-room audio systems.
NuVo Technologies is an ideal complement to Legrand’s existing home systems offer in the US, where it is already a frontrunner in both structured wiring for housing (OnQ and UStec) and top-of-the-range residential lighting controls (Vantage).
With a network of 40 distributors and around 1,000 dealers in the United States, NuVo Technologies will also strengthen Legrand’s sales reach in the US market for home systems. Simultaneously, NuVo Technologies will build on Legrand’s commercial network to accelerate its own growth in this promising market.
More broadly, Legrand is thus pursuing its expansion into new business segments (digital infrastructures, energy performance, home systems and wire-mesh cable management). These segments accounted for over 25% of total group sales at September 30, 2012, a proportion that has more than doubled in the past ten years.
Founded in 2002 and based in Hebron, Kentucky, NuVo Technologies is expected to report 2012 revenues of nearly USD 20 million, of which 65% in the United States.
(1) A joint venture agreement has been signed and is subject to the approval of Brazil’s competition authorities
Key financial dates
- 2012 full-year results: February 14, 2013
- 2013 first-quarter results: May 7, 2013
- General meeting of shareholders: May 24, 2013
Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for use in commercial, industrial and residential markets makes it a benchmark for customers worldwide. Innovation for a steady flow of new products with high added value and acquisitions are prime vectors for growth. Legrand reported sales of over €4.2 billion in 2011. The company is listed on NYSE Euronext and is a component stock of indexes including the CAC40, FTSE4Good, MSCI World, ASPI and DJSI (ISIN code FR0010307819). www.legrand.com
Tel: +33 (0)1 49 72 53 53
Fax: +33 (0)1 43 60 54 92
Tel: +33 (0)1 44 82 46 32
Mob: +33 (0)6 70 41 36 65