Rexel to acquire Mayer for $456m.

Rexel, a French company specializing in the distribution of electrical, heating, lighting and plumbing equipment, agreed to acquire Mayer, a distributor of electrical products and services, for $456m. “The acquisition of Mayer will allow Rexel to expand its footprint in North America, the biggest market in the world for electric supplies and a key pillar of our strategy. The two companies’ strengths in the regions where Mayer operates are very complementary and should allow for a smooth integration. We are impressed by the quality and reputation of Mayer’s team and are looking forward to starting to work with them, under the leadership of Jeff Baker, CEO of Rexel USA. This transaction is fully in line with both the strategy and the financial objectives announced at our February Capital Markets Day," Guillaume Texier, Rexel CEO.