Connection

popular articles

ExxonMobil invests $10 billion in offshore project in Nigeria
Everstar raises $4 million to modernize nuclear compliance with AI
Ørsted abandons Swedish FlagshipONE e-methanol project
Australia: A Green Hydrogen Project Suspended Due to Regulatory Instability
Despite sanctions, Rosatom expands global nuclear influence and secures exports

Nexans sells its industrial division Lynxeo to Latour Capital for 525 million euros

Nexans has announced that it has entered into exclusive negotiations with the investment fund Latour Capital for the sale of Lynxeo, its industrial cable division, for an amount of 525 million euros. This transaction is part of the group’s strategy to focus on electrification.

Please share:

The French group Nexans, the second-largest cable manufacturer globally behind Prysmian, revealed it has entered into exclusive negotiations with Latour Capital for the sale of Lynxeo, its industrial cables division. The deal, valued at 525 million euros, aligns with Nexans’ strategy to refocus its activities on electrification, particularly through electricity transmission infrastructure.

Strategic shift towards electrification

Nexans, which began to shift away from industrial and digital segments in 2021, is now ending its business in specialized industrial cables. When presenting its 2024 financial results, Nexans reported a net profit of 283 million euros, up 27% compared to the previous year. This performance was mainly driven by strong demand for cables for offshore wind farm connections and massive investments in modernizing electricity grids in various countries.

Lynxeo, formerly Nexans Industry Solutions & Projects, is active in providing specialized cables for industrial markets such as rail, maritime, and robotics. The unit has a significant presence in Europe, Asia, and the United States, with over 2,000 employees and an annual turnover exceeding 700 million euros.

Latour Capital sees growth potential

The investment fund Latour Capital, based in France, expressed confidence in Lynxeo’s growth potential, operating in a specialized industrial cables market deemed to be both growing rapidly and highly fragmented. Jean-François Beaudoin and Sylvain Dekens, the fund’s leaders, highlighted that Lynxeo’s position allows it to capitalize on this growth dynamic.

Christopher Guérin, CEO of Nexans, stated that this sale represents a key step in the group’s strategy, now focused on developing electrification solutions. He added that the experience and strategic vision of Latour Capital would be crucial factors in supporting the growth of Lynxeo.

A turning point in Nexans’ history

The sale of Lynxeo marks a significant turning point for Nexans, effectively ending more than a century of activity in the specialized industrial cable sector. This withdrawal will allow Nexans to concentrate its resources on the strategic electricity transmission sector, where it holds a strong position, particularly in the field of underwater infrastructure for renewable energy projects.

Register free of charge for uninterrupted access.

Publicite

Latest news

Equinor creates new division to consolidate flexible and renewable energy assets
Polestar records 76% rise in sales in Q1 2025
DEME acquires Havfram for €900 mn to strengthen its offshore wind position
ORLEN launches market study on renewable ammonia to secure supply
Energiequelle secures 143 MW in German onshore wind tender

Recently published in

Equinor creates new division to consolidate flexible and renewable energy assets

Equinor restructures operations to enhance earnings in growing power markets by merging its renewables and flexible generation assets into a single business unit.
Data centre electricity demand driven by AI expected to double by 2030
According to the International Energy Agency, artificial intelligence will drive a global rise in data centre electricity consumption, reaching the current level of Japan’s national use by the end of the decade.
en_1140290985540
Data centre electricity demand driven by AI expected to double by 2030
According to the International Energy Agency, artificial intelligence will drive a global rise in data centre electricity consumption, reaching the current level of Japan’s national use by the end of the decade.
en_1140290985540
Sinopec and Aramco strengthen their alliance for the Yanbu complex expansion
Sinopec and Saudi Aramco have signed a framework agreement to expand the Yanbu complex, aiming to establish an integrated refining and petrochemical platform with high industrial capacity.
en_1140290966540-2
Sinopec and Aramco strengthen their alliance for the Yanbu complex expansion
Sinopec and Saudi Aramco have signed a framework agreement to expand the Yanbu complex, aiming to establish an integrated refining and petrochemical platform with high industrial capacity.
en_1140290966540-2
Fusion Fuel targets UK with £50mn acquisition in fuel distribution
Fusion Fuel has signed a letter of intent to acquire a UK-based fuel distribution company valued at £50mn, as part of its strategy to expand its presence across the energy value chain.
en_1140290946540-6
Fusion Fuel targets UK with £50mn acquisition in fuel distribution
Fusion Fuel has signed a letter of intent to acquire a UK-based fuel distribution company valued at £50mn, as part of its strategy to expand its presence across the energy value chain.
en_1140290946540-6

SBM Offshore sells FPSO Cidade de Paraty in $400 million leaseback deal

SBM Offshore finalises a non-recourse leaseback agreement worth $400 million for FPSO Cidade de Paraty, transferring ownership to a consortium of Chinese lessors for an eight-year period.
Viridien secures 2,400 km² seismic reprocessing contract in Algeria with Sonatrach and PTTEP
Viridien will reprocess two 3D seismic datasets in the Berkine Basin for the Hassi Bir Rekaiz consortium over a 13-month period.
en_1140290970540
Viridien secures 2,400 km² seismic reprocessing contract in Algeria with Sonatrach and PTTEP
Viridien will reprocess two 3D seismic datasets in the Berkine Basin for the Hassi Bir Rekaiz consortium over a 13-month period.
en_1140290970540
Copper producers bet on growth as investment strategies diverge
Mining companies are turning to copper production to drive growth from 2025, marking a strategic shift in capital allocation, according to Wood Mackenzie.
en_1140290946540-5
Copper producers bet on growth as investment strategies diverge
Mining companies are turning to copper production to drive growth from 2025, marking a strategic shift in capital allocation, according to Wood Mackenzie.
en_1140290946540-5
Autoliv secures energy supply with two European renewable contracts
Swedish manufacturer Autoliv signs two 12-year renewable power purchase agreements with Alight and Eurowind Energy to ensure stable supply and anticipate volatility in European energy markets.
en_1140290944540-4
Autoliv secures energy supply with two European renewable contracts
Swedish manufacturer Autoliv signs two 12-year renewable power purchase agreements with Alight and Eurowind Energy to ensure stable supply and anticipate volatility in European energy markets.
en_1140290944540-4

Avangrid bets on advanced technologies to modernise American energy grids

Avangrid brought together over 150 energy stakeholders in Cambridge during its annual forum to accelerate the development of technological solutions involving artificial intelligence, storage, and infrastructure resilience.
BP initiates succession of chairman Helge Lund ahead of expected 2026 departure
British oil group BP has confirmed the planned departure of its chairman of the board Helge Lund, launching a transition process expected to conclude in 2026.
en_1140290948540-4
BP initiates succession of chairman Helge Lund ahead of expected 2026 departure
British oil group BP has confirmed the planned departure of its chairman of the board Helge Lund, launching a transition process expected to conclude in 2026.
en_1140290948540-4
ExxonMobil appoints Matt Crocker as head of its Product Solutions division
ExxonMobil has announced the upcoming retirement of Karen McKee and the appointment of Matt Crocker as president of the Product Solutions division, marking a key change in the group’s governance effective 1 May 2025.
en_1140291004540
ExxonMobil appoints Matt Crocker as head of its Product Solutions division
ExxonMobil has announced the upcoming retirement of Karen McKee and the appointment of Matt Crocker as president of the Product Solutions division, marking a key change in the group’s governance effective 1 May 2025.
en_1140291004540
The French PPA market reaches 2 GW led by photovoltaic dominance
France now counts over 100 long-term electricity purchase agreements, totalling 2 GW, mainly driven by the rise of photovoltaics and the expansion of hybrid and multi-buyer models.
en_1140291022540
The French PPA market reaches 2 GW led by photovoltaic dominance
France now counts over 100 long-term electricity purchase agreements, totalling 2 GW, mainly driven by the rise of photovoltaics and the expansion of hybrid and multi-buyer models.
en_1140291022540

Repsol sells 49% stake in Spanish wind and solar portfolio to Schroders Greencoat

UK-based manager Schroders Greencoat acquires a minority stake in ten Repsol renewable assets in Spain, valued at €580mn, reinforcing its investment strategy in the European energy transition.
Plenitude finalises EIP’s 10% stake acquisition through €800mn capital injection
Swiss fund Energy Infrastructure Partners increases its stake in Plenitude to 10% after a total €800mn investment, confirming a post-transaction equity valuation of €8bn.
en_1140291003540
Plenitude finalises EIP’s 10% stake acquisition through €800mn capital injection
Swiss fund Energy Infrastructure Partners increases its stake in Plenitude to 10% after a total €800mn investment, confirming a post-transaction equity valuation of €8bn.
en_1140291003540
TotalEnergies strengthens its global portfolio with three renewable acquisitions
TotalEnergies has completed strategic acquisitions in the wind, solar and hydropower sectors across Europe, Africa and Canada, thereby reinforcing its integrated power business in several key markets.
en_1140290957540-1
TotalEnergies strengthens its global portfolio with three renewable acquisitions
TotalEnergies has completed strategic acquisitions in the wind, solar and hydropower sectors across Europe, Africa and Canada, thereby reinforcing its integrated power business in several key markets.
en_1140290957540-1
Trinasolar ISBU secures 30 MW solar deal with Equinix in Japan
Trinasolar ISBU will supply solar electricity to Equinix for 20 years through an agreement centred on the 30 MW Yufutsu Abira project in Hokkaidō Prefecture.
en_1140290952540-2
Trinasolar ISBU secures 30 MW solar deal with Equinix in Japan
Trinasolar ISBU will supply solar electricity to Equinix for 20 years through an agreement centred on the 30 MW Yufutsu Abira project in Hokkaidō Prefecture.
en_1140290952540-2

TerraForm Power settles $34.5mn lawsuit with former executive after nine-year litigation

TerraForm Power reached a $34.5mn court settlement with its former chairman Carlos Domenech, nine years after his dismissal, ending a case tied to SunEdison's financial management.
Sinopec reports USD 6.74 bn net profit and 75% payout ratio
Chinese group Sinopec reported annual revenue of CNY 3,070 bn and net profit of CNY 48.94 bn, achieving record performance across its oil, gas and chemical segments.
en_1140290945540
Sinopec reports USD 6.74 bn net profit and 75% payout ratio
Chinese group Sinopec reported annual revenue of CNY 3,070 bn and net profit of CNY 48.94 bn, achieving record performance across its oil, gas and chemical segments.
en_1140290945540
United States revokes Maurel & Prom’s oil licence in Venezuela
Maurel & Prom confirmed that US authorities cancelled its operating licence in Venezuela, while allowing it to finalise operations until 27 May.
en_1140290943540-25
United States revokes Maurel & Prom’s oil licence in Venezuela
Maurel & Prom confirmed that US authorities cancelled its operating licence in Venezuela, while allowing it to finalise operations until 27 May.
en_1140290943540-25
Eesti Energia launches €200mn takeover bid to regain control of Enefit Green
Estonian state-owned energy group Eesti Energia plans to acquire all shares in its subsidiary Enefit Green in a voluntary takeover bid worth over €200mn, set to begin on April 8.
en_1140290956540-21
Eesti Energia launches €200mn takeover bid to regain control of Enefit Green
Estonian state-owned energy group Eesti Energia plans to acquire all shares in its subsidiary Enefit Green in a voluntary takeover bid worth over €200mn, set to begin on April 8.
en_1140290956540-21

TotalEnergies cuts emissions by 2.9% in 2024 and stays on course

TotalEnergies reported a 2.9% drop in emissions for 2024, reaffirming its climate strategy ahead of a key general meeting.
Shell selects McDermott for three-year global framework agreement in engineering
Shell Global Solutions International B.V. has awarded McDermott a three-year framework agreement for engineering, procurement and project management services across several strategic markets.
en_1140290956540-19
Shell selects McDermott for three-year global framework agreement in engineering
Shell Global Solutions International B.V. has awarded McDermott a three-year framework agreement for engineering, procurement and project management services across several strategic markets.
en_1140290956540-19
Earth AI identifies six strategic tungsten and cobalt deposits in Australia using AI
Australian company Earth AI confirms six new mineral prospects, including cobalt and tungsten, discovered through its predictive exploration software based on artificial intelligence.
en_1140290962540-8
Earth AI identifies six strategic tungsten and cobalt deposits in Australia using AI
Australian company Earth AI confirms six new mineral prospects, including cobalt and tungsten, discovered through its predictive exploration software based on artificial intelligence.
en_1140290962540-8
Nexans strengthens copper recycling in northern France amid supply tensions
Nexans is expanding its industrial capacity near Noyelles-Godault to recycle more copper, as global demand outpaces primary mining production.
en_1140290950540-18
Nexans strengthens copper recycling in northern France amid supply tensions
Nexans is expanding its industrial capacity near Noyelles-Godault to recycle more copper, as global demand outpaces primary mining production.
en_1140290950540-18

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS