Rexel, a company specializing in the distribution of electrical, heating, lighting and plumbing equipment, completed the acquisition of Wasco, a distributor of HVAC products and services, from Gilde Equity Management, a private equity company, for €485m ($520m). “With the acquisition of Wasco, we are totally in line with our strategy aiming at seizing electrification and energy transition opportunities. It’s also fully consistent with our purpose, ‘Electrifying solutions that make a sustainable future possible’. The Netherlands is one of the most exciting European markets from an electrification perspective, benefitting from a fast-paced transition from gas, driven by incentives and regulations, notably the ban on gas boilers both in new build and renovation," Guillaume Texier, Rexel CEO.