Regulatory Filings • Feb 6, 2014
Regulatory Filings
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Limoges, February 6, 2014
Following its 2011 acquisition of Intervox, France's leader in electrical systems dedicated to assisted living, and then, in 2013, Tynetec, a frontrunner in this field in the United Kingdom, Legrand today announced the signature of a joint venture agreement(1) with Neat, Spain's leader of systems for assisted living and a major player in this market Europe-wide.
With this operation, Legrandalready a frontrunner in the "silver economy"strengthens its positions in assisted living and becomes second in Europe in this field, with in particular no. 1 or no. 2 positions in the major European markets: France, Great-Britain, Spain and Germany.
This market segment holds promising long-term potential and will be underpinned by:
Neat offers an ideal complement to Legrand's existing offer, which includes a range of solutions that promote quality of life for seniors living at home or in specialized institutions with dedicated products including easy-fit sockets, lighting paths to prevent falls, nurse calling systems or terminals for remote assistance.
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Based in Madrid, Neat has 90 employees and annual revenues of over €15 million.
(1) The completion of the transaction is subject to customary conditions precedent. Legrand holds 51% of equity. (2) According to the World Population Ageing Report 2013 from the UN, by 2050, the world's population is expected to include 3.3 times as many people over 80 as today.
ABOUT LEGRAND
Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for use in commercial, industrial and residential markets makes it a benchmark for customers worldwide. Innovation for a steady flow of new products with high added value and acquisitions are prime vectors for growth. Legrand reported sales of close to €4.5 billion in 2012. The company is listed on NYSE Euronext and is a component stock of indexes including the CAC40, FTSE4Good, MSCI World, Corporate Oekom Rating and DJSI (ISIN code FR0010307819). www.legrand.com
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Legrand François Poisson Tel : +33 (0)1 49 72 53 53 Fax : +33 (0)1 43 60 54 92 [email protected]
Publicis Consultants Vilizara Lazarova Tel : +33 (0)1 44 82 46 34 Mob : +33 (0)6 26 72 57 14 [email protected]
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