Nexans signs an agreement to acquire Electro Cables Inc. strenghtening Nexans’ positioning in PWR-Connect in Canada

Electro Cables is a Canadian player in low-voltage cable systems, delivering high-performance and service-focused solutionsStrong strategic complement to Nexans’ Canadian portfolio, offering attractive growth perspectives and a robust profitability profile

Paris, October 23, 2025 — Nexans, a leader in the global energy transition, announces the signature of an agreement to acquire 100% of the share capital of Electro Cables Inc. (“Electro Cables”).

Founded in 1985 and headquartered in Trenton, Ontario, Canada, Electro Cables is a family-owned business specializing in low-voltage cables. The company is recognized for its strong expertise in high added value solutions in adjacent to cable businesses and is supported by a robust technology platform that fully complements Nexans’ positioning in Canada. Operating through its two industrial sites, with potential for future expansion, Electro Cables serves fast growing markets such as (i) specialized projects linked to infrastructure, data centers, gigafactories, powered transportation infrastructure, renewables and (ii) critical buildings, particularly in healthcare. With approximately c.€125 million current sales for the last twelve months ending July 2025 and a team of around 200 employees, Electro Cables has demonstrated attractive growth and robust profitability.

This acquisition allows Nexans to further strengthen and complement its activity portfolio in Canada, enhancing its position in a very dynamic market while optimizing local supply chain efficiency. It also paves the way for valuable synergies driven by Nexans’ expanded local presence and the rollout of its proven proprietary SHIFT program while enhancing innovation. The acquisition will be fully financed in cash, leveraging Nexans’ strong balance sheet and is expected to be EPS accretive from year one.

Julien Hueber, Nexans’ CEO said: “The acquisition of Electro Cables brings complementary expertise and a strong reputation for quality in low-voltage solutions in Canada. Their positioning perfectly aligns with Nexans’ strategy and complements Nexans’ offer in a dynamic market. This represents another major step for Nexans, reinforcing its ambition to become a pure player in Electrification through high added value solutions. This acquisition will create significant value thanks to the attractive growth and profitability perspectives.”

Tim King, Managing Director PWR-Grid & Connect North America added: “Nexans is proud to welcome Electro Cables. This marks a key strategic milestone in deepening our commitment to customers across Canada. We look forward to working with the talented Electro Cables  team to deliver enhanced value, exceptional service, and innovative solutions.”

Gord Davis, Electro Cables’ CEO said: “Electro Cables’ 40-year legacy of service excellence, product quality, and deep commitment to our team has led us to this significant moment in our journey. As we join forces with Nexans Canada, we are confident that these core values will not only endure but thrive, enhancing the way we serve our customers and strengthening the relationships we have built over decades.“

Closing of the transaction is expected for H1 2026, subject to Canadian regulatory approvals and satisfaction of other customary closing conditions. Until that time, the companies will continue to operate independently.

About Nexans

Nexans is the global pure player in sustainable electrification, building the essential systems that power the world’s transition to a connected, resilient, and low-carbon future. From offshore and onshore renewable energies to smart cities and homes, Nexans designs and delivers advanced cable solutions, accessories and services that electrify progress safely, efficiently, and sustainably.

With over 140 years of history, through three core businesses: PWR Transmission, PWR Grid, and PWR Connect, Nexans blends deep industry expertise with cutting-edge innovation to accelerate the energy transition, and better meet its customers' needs. Its unique E3 model, focused on Environment, Economy and Engagement, drives every action, aligning performance with purpose.

Nexans operates in 41 countries with 28,500 people and generated €7.1 billion in standard sales in 2024. As recognized climate action leader, Nexans is committed to Net-Zero emissions by 2050 aligned with the Science Based Targets initiative (SBTi) and expanding energy access through the Fondation Nexans.

Nexans is listed on Euronext Paris, Compartment A.

www.nexans.com | #ElectrifyTheFuture

Contacts:

Investor relations

Audrey Bourgeois

Tel. : +33 (0)1 78 15 00 43

[email protected]

Communication

Mael Evin (Havas Paris)

Tel. : +33 (0)6 44 12 14 91

[email protected]

Olivier Daban

[email protected]

Attachment

20251023 Nexans signs an agreement to acquire Electro Cables in Canada

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Source: Nexans