Sonepar, the global leader in Electrical Distribution with operations in 40 countries and total turnover of + € 16 B, announces that it has entered into an agreement to purchase the shares of Routeco Group Holdings Ltd.
The transaction, which is subject to approval from competition authorities in Austria, is expected to close during the fourth quarter of 2014.
Founded in 1978 in Milton Keynes, Routeco has become one of the leading distributors of industrial control and automation products and services in the UK and reached €135 m sales in FY 2014.
Routeco has been a Rockwell Automation authorized distributor since 1992 and serves its customers via 13 branches across the UK. Routeco also has operations in Austria and in the Netherlands.
This acquisition underlines the ongoing efforts of Sonepar to strengthen its position with entries into new countries as well as into the immense market of Industrial Automation.
Routeco will continue to operate as a separate Business Unit within Sonepar Northern Europe. Ian Stewart (CEO) and the existing management team that has driven the development over the last 25 years will remain in charge.
Routeco will continue to work closely together with Rockwell Automation and will be supported by Sonepar to improve the value proposition to its very loyal customers base, through providing support in offering more complementary lines, supply chain services and e-commerce capabilities.
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