Group, Acquisition |02.06.2013
Legrand actively pursues expansion in new economies by acquiring Seico in Saudi Arabia
Legrand takes control of Seico¹, Saudi leader in industrial metal cable trays
Legrand thus strengthens its presence in Saudi Arabia, a high-growth market where it is already leader in wiring devices
Legrand is actively pursuing its strategy of development through self-financed acquisitions of small to medium-size businesses with leading positions in their markets, and today announced the purchase of Seico. Seico is the leader of the Saudi market for industrial metal cable trays, a segment where it is also a top player in other countries in the Gulf Cooperation Council².
The move expands Legrand’s presence in Saudi Arabia, a fast-growing market where the group already ranks first in wiring devices. Seico’s strong ties to key players in the oil and gas vertical market in the Gulf also strengthen Legrand’s positions in this high-growth market segment.
Seico has three production plants in Saudi Arabia which manufacture all of its output, and its 2012 sales totaled around €23 million.
¹ Seico: Saudi Electric Industries Company
² Saudi Arabia, Bahrain, United Arab Emirates, Kuwait, Oman and Qatar