Sonepar, the global leader in Electrical Distribution with
operations in 40 countries and total turnover of + €16 billion ($20.7
billion), announces that it has entered into an agreement to purchase
the shares of Routeco Group Holdings Ltd.
The transaction, which is subject to approval from competition
authorities in Austria, is expected to close during the fourth quarter
of 2014.
Founded in 1978 in Milton Keynes, Routeco has become one of the
leading distributors of industrial control and automation products and
services in the UK and reached €135 million ($174.3 million) sales in FY
2014.
Routeco has been a Rockwell Automation authorized distributor since
1992 and serves its customers via 13 branches across the UK. Routeco
also has operations in Austria and in the Netherlands.
This acquisition underlines the ongoing efforts of Sonepar to
strengthen its position with entries into new countries as well as into
the immense market of Industrial Automation.
Routeco will continue to operate as a separate Business Unit within
Sonepar Northern Europe. Ian Stewart (CEO) and the existing management
team that has driven the development over the last 25 years will
remain in charge.
Routeco will continue to work closely together with Rockwell
Automation and will be supported by Sonepar to improve the value
proposition to its very loyal customers base, through providing support
in offering more complementary lines, supply chain services and
e-commerce capabilities.
About Sonepar:
Sonepar is an independent family-owned company with global market
leadership in B-to-B distribution of electrical products and related
services. Founded in 1969, Sonepar employs 36,000 associates at more
than 190 entities in 41 countries. Thanks to continuous growth, the
company posted sales of €16.3 billion in 2013.