Nexans to Acquire Republic Wire for €680 Million
Low-voltage copper building wire of the type manufactured by Republic Wire at its Cincinnati, Ohio campus. Image credit: Nexans.
Key Points
- Nexans (Euronext Paris: NEX) has signed an agreement to acquire 100% of Republic Wire, a Cincinnati, Ohio manufacturer of low-voltage copper and aluminium wire products.
- The transaction carries a total enterprise value of about €680 million, with a further earn-out of up to €43 million potentially payable in 2028 based on performance through year-end 2027.
- Republic Wire generated approximately €520 million in current revenue over the 12 months through February 2026.
- At the announced terms the enterprise value represents 10.3x 2027 estimated adjusted EBITDA before synergies, and 7.6x after run-rate synergies of c.€23 million.
- Closing is expected early in the third quarter of 2026, subject to regulatory approvals and customary conditions.
Deal Overview
Nexans, the Paris-listed cable manufacturer that describes itself as a pure player in sustainable electrification, announced on April 27, 2026 that it has signed an agreement to acquire 100% of the share capital of Republic Wire, Inc. Republic Wire is an American manufacturer of low-voltage copper and aluminium wire products headquartered in Cincinnati, Ohio.
The transaction carries a total enterprise value of about €680 million, with a further earn-out of up to €43 million potentially payable in 2028 based on performance through year-end 2027. The stated euro figures were calculated using a USD to EUR rate of 0.86.
Republic Wire generated approximately €520 million in current revenue over the 12 month period through February 2026, reported under US GAAP. The business sits at the low-voltage end of the cable market, the segment Nexans supplies to residential, commercial and industrial customers.
Transaction Terms
The consideration is structured as an upfront enterprise value plus a performance-linked earn-out designed to support alignment through the ownership transition. Nexans said the transaction will be financed through a combination of debt and existing cash on the balance sheet.
| Term | Details |
|---|---|
| Enterprise value | c.€680 million, before earn-out |
| Earn-out | Up to €43 million, potentially payable in 2028 based on performance through year-end 2027 |
| Stake acquired | 100% of the share capital of Republic Wire, Inc. |
| Valuation multiple | 10.3x 2027 estimated adjusted EBITDA before synergies, 7.6x after run-rate synergies, on the enterprise value before earn-out |
| Target revenue | c.€520 million over the 12 months to February 2026, US GAAP |
| Synergies | c.€23 million run-rate targeted over three years, roughly 50% in year one; implementation costs of c.€23 million |
| Financing | Combination of debt and existing balance sheet cash |
| Expected closing | Early in the third quarter of 2026, subject to regulatory approvals and customary conditions |
Earn-out
For this transaction, Nexans said an earn-out of up to €43 million could be payable in 2028 based on Republic Wire’s performance through year-end 2027. The company said the structure was designed to support alignment and a successful ownership transition.
Inside Republic Wire
Founded in 1982 and family-owned, Republic Wire supplies electrical wholesale distributors, utilities and municipalities across the United States and Canada. Its product range covers bare copper wire, insulated building wire and poly weatherproof wire, serving residential, commercial and industrial end markets. Distribution runs through a national network of 18 sales agencies.
Manufacturing sits on a single fully invested campus: a 32,500 square metre plant with significant automation, alongside a newly completed 30,000 square metre warehouse and distribution centre. The company employs over 200 people and has completed an expansion programme that Nexans expects to be fully online by the end of 2026, lifting production capacity by approximately 30%.
The current management team, led by Ron and Jeremy Rosenbeck, is remaining in place.
“Republic Wire has always been more than a business to our family – it is a legacy built on hard work, loyalty, and a deep responsibility to our customers and the people who chose to build their careers here. In Nexans, I found a partner who shares those values, not just a buyer.”
— Ron Rosenbeck, Chief Executive Officer, Republic Wire
Strategic Rationale
Nexans framed the deal as a step in expanding its geographic footprint into the United States, one of the world’s largest markets for low- and medium-voltage cable. Citing a February 2026 Roland Berger market study, the company put the US low-voltage segment at about €12 billion, driven by demand across residential, commercial and data centre expansion.
“The acquisition of Republic Wire marks a transformative moment in Nexans’ journey to become a reference pure player in electrification. The United States represents the single largest growth opportunity in low- and medium-voltage cable, within a premium business segment where quality and reliability drive sales. Republic Wire gives us the expanded platform, the customer relationships and the operational credibility we need to compete in this highly dynamic market.”
— Julien Hueber, Chief Executive Officer, Nexans
The company set out four rationales: establishing an expanded manufacturing and distribution platform in the United States, complementing its recent acquisition of Electro Cables in Canada; accessing residential and commercial channels through Republic Wire’s sales agent and distributor network; creating a platform for further organic and inorganic growth across the country; and generating about €23 million of run-rate synergies within three years through cross-selling, deployment of Nexans’ proprietary manufacturing intellectual property, and purchasing scale.
“The acquisition of Republic Wire represents an important strategic milestone, meaningfully strengthening our position in the North American market. As a highly respected brand with a proven track record of exceptional quality and customer centricity, Republic Wire brings deep market relationships and an extensive commercial network and strong industrial footprint that significantly enhances our ability to serve customers and partners.”
— Tim King, Managing Director North America, Nexans
The North American Platform
Republic Wire is the second North American acquisition Nexans has pointed to in short order, following Electro Cables in Canada. The company presented the two as complementary parts of a single integrated platform rather than separate country bets.
“Combined with our recent complementary acquisition of Electro Cables in Canada, we are building an integrated North American business, expanding our industrial footprint in the Americas and reinforcing our positioning in high-growth segments such as data centers, that will serve as a growth engine for the Group for years to come.”
— Julien Hueber, Chief Executive Officer, Nexans
Distribution is the other half of the platform. Republic Wire reaches residential and commercial channels through a national network of 18 sales agencies, and Nexans said that network, alongside its own global distributor relationships, is what opens access to additional high-growth verticals including data centres. Nexans expects to maintain operations at the existing Ohio facilities.
Timeline and Approvals
The transaction is expected to close early in the third quarter of 2026, subject to applicable regulatory approvals and other customary closing conditions. Nexans expects to maintain Republic Wire’s operations at its existing Ohio facilities and to use the combined platform to support its activities in the United States.
PJT Partners is acting as exclusive financial advisor to Nexans, with White & Case LLP acting as legal advisor.
Nexans is listed on Euronext Paris, Compartment A. The group operated in 41 countries with 25,700 people and generated €6.1 billion in standard sales in 2025, across three core businesses: PWR-Transmission, PWR-Grid and PWR-Connect.