Leviton Manufacturing’s $202 Million Acquisition of Berk-Tek

Patterson Belknap attorneys represented Leviton Manufacturing Co., Inc. in the transaction.

Leviton Manufacturing Co., Inc., a diversified manufacturer of electrical equipment and solutions, executed its acquisition of Berk-Tek, a leading U.S. manufacturer of fiber-optic and copper network cabling, from Nexans.

The acquisition enables Leviton to serve as a single-source manufacturer of end-to-end systems, including connectivity and cables.

The transaction entails an enterprise value of US$202 million which represents approximately a multiple of 10x over 2019 stand-alone adjusted EBITDA. Berk-Tek reported sales for US$163 million in 2019.

Berk-Tek is a leading manufacturer of local area network copper and fiber cables. Berk-Tek’s 350 employees as well as its facilities located in Pennsylvania and North Carolinaare expected to move under Leviton ownership before the end of Q3-2020 subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended.

From electrical, to lighting, to data networks, and energy management, Leviton develops thoughtful solutions that help make its customers’ lives easier, safer, more efficient and more productive.

The Patterson Belknap team advising Leviton Manufacturing was led by Peter Schaeffer (Picture) and Jim Parks.

Involved fees earner: James Parks – Patterson Belknap; Peter Schaeffer – Patterson Belknap;

Law Firms: Patterson Belknap;

Clients: Leviton Manufacturing;

Author: Ambrogio Visconti